Over the years we have been hearing that the solar power system saves money. Solar is beneficial for the environment. However, what keeps us wondering is do we really save money with solar and if yes how much?
The savings on solar can vary with the system size, the initial cost of the solar PV system, the finance option used to install solar, the brand of solar products installed, the location of the property and the property specifications.
In this article we shall highlight a few points to understand the cost and savings associated with solar over the lifespan of a solar PV system.
A 6.6kW solar system in Brisbane
We will need some examples to explain the calculations so we are supposing a 6.6kW solar system in Brisbane here. A 6.6kW solar system costs around $4000 to $7000 in Brisbane and in accordance with the CEC average production chart, each kW in Brisbane would produce 4.2kW/day. Considering a 6.6kW system installed, it would, on an average, produce over 27kW/day.
Look at the chart for your location, choose a solar system size you want to calculate the average daily production for. For example here we are calculating the average daily production for a 10kW solar system in Sydney. Look for the daily production in Sydney for 1kW. Multiply it with 10. 10*3.9 = Average daily production for a 10kW solar PV system in Sydney would be 39kW. All these figures vary based on the brand of solar products, system size, property specifications and the area you reside in.
Considering and calculating the average daily production can help you determine the right solar system size, which can help you determine the cost of a solar PV system.
Analyzing electricity bills
Analyzing electricity bills is important to determine the size of the solar system for your property. See if you can find 3 quarterly electricity bills of your home. Check the amount of electricity consumption. Find the average consumption. Divide the total consumption by the number of days on the bill to see how much is your average daily production. Repeat the process for 3 bills if you can. Even analyzing one bill will give you a good idea.
Let’s suppose your daily consumption is 15kW. If you get a 6.6kW solar system in Brisbane, it shall produce over 27kW each day (the figures shall change based on the location, property specifications and brands of panels installed). If your home uses 15kW, you can still feed-in 10-12kW to the grid for which you shall receive credits on your electricity bills.
How Arise Solar makes it Hassle-free for You!
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