Just like every other year, 2022 has also had its own ups and downs, but happily we’ve been able to look to solar for a ray of light amid the darkness when things were the worst. There is doubt that the sun is the most popular renewable energy source in Australia. However, there is a lot that has changed and happened in this year in the solar industry. Solar rebates have changed, solar prices have gone through a roller coaster and the energy crisis is not here to settle soon.
Solar rebates 2022
Every year in January the solar rebates offered on the solar PV system in the form of STCs (small scale technology certificates) are reduced. The Australian federal rebate accounts for a subsidy of thousands of dollars on the purchase of solar rebate. The rebate can save up to thousands of dollars on a residential solar panel system. The rebates were reduced by almost $200-$300 for a typical 6.6kW system in January 2022. For the rebates to be valid, the solar items put on the property must be CEC-approved modules and inverters, and the installation must be done by a CEC installer. There are numerous requirements for the same, nevertheless. Find out if you qualify for rebates for solar panel installation on your roof that are worth thousands of dollars.
Should I install solar now in 2022 or wait?
It is necessary to balance the opportunity cost of waiting to act with the advantages of further price reductions. Consider this. Your energy bill will increase over time if you put off installing solar panels, which will cost you money. The cost of power has just increased throughout the second half of 2022. Although photovoltaic solar panels for homes are now inexpensive, prices could rise in the future. Government subsidies for solar energy are declining or disappearing altogether in the coming years of time. Homes with solar panels on the roof sell faster than the homes without. Waiting to install solar panels means missing an opportunity to save.
Solar prices hike 2022
Before and after the rebate figures changed, surging solar prices were flashing the headlines. Solar prices were affected by various factors including significant costs for both production and delivery and more. The rooftop solar prices kept rising due to shortage of raw materials and high shipping costs. However, the prices are competitive now and might be affected by the rising demand for solar soon.
Energy crisis Australia 2022
This financial year started with a shock of high electricity bills for a lot of Australians. In June, there was a chance for significant blackouts in up to five states, which would have disrupted the electricity industry. Industry experts advise using renewable energy as one of the best solutions to protect yourself from rising electricity costs. The energy crisis is not here to settle soon. The energy costs rose by almost 110% in one year. The power costs are predicted to increase further by 20% or more, demand for “solar panels” and “solar batteries” is at an all-time high, as are Google searches for those terms.
Arise Solar makes going solar simpler!
One of the best decisions you can possibly make is to install solar panels to protect yourself from escalating energy expenses. The benefits of using solar energy to power your home include lower electricity costs, a decent return on investment, and a positive environmental impact. Analysis is necessary to ensure that you select the best solar installer and solar products for your property’s needs in order to receive smart returns on the smart investment. In times of crisis, Arise Solar works to lower the cost of solar energy even further. Speak with our team to learn about extra savings on solar installation.