With so many lucrative investment opportunities, it often becomes difficult to choose the investment that “ saves you tons of money.” You are in a similar dilemma when you think of investing in solar panels. Solar panels generate energy naturally by using energy from the sun, which means Save on electricity using solar panels.
Solar panels are one of the most recommendable sources of renewable energy. Solar panels help save energy by removing the dependency of households on the national grid.
These solar panels use renewable energy, which is less expensive in comparison to the energy produced by the grid, hence, reducing your electricity bills. Therefore, installing a solar panel in your home can be a wise decision. But, how much money you can save with solar power also depends on many factors, including:
- Your average energy consumption
- Usage pattern
- Your feed-in tariff rate
- Size of your solar power system
- Where you live
These factors play a key role in saving you from paying huge electricity bills, so let’s begin unrolling them:
Understanding your average electricity consumption
The easiest way to figure out your average electricity consumption is to look at the past electricity bills. Your electricity bill is an indicator of how much power you have used in the previous month or quarter. The consumption of electricity will be shown in kilowatt-hours [kWh].
Solar power aids in reducing average energy consumption, especially in sunny Australia.
Large properties or households with higher energy demands require a solar power system of around 5kW or sometimes higher. A 5kW system in Australia is ideal for generating between 18kW/h-25kWh of electricity on average per day.
So, check your electricity bill to see how many units you are currently using. It will not only help in calculating the average consumption but also help you choose the right solar panel for your house.
Your solar power system produces electricity during daylight hours and feeds back the excess energy into the grid. Moreover, the energy provider will credit you for the export of power, and this credit will ultimately help offset your power bills.
Feed in tariff rate
Feed in tariff rate gives you the cashback on the amount for any renewable energy that you generate in your home. The amount you will receive depends largely on the kw size of your system.
Customers who sign an agreement with their energy provider can get the tariff rate for the solar power, which is fed back into the grid. The best way to find the tariff rate is to check with your provider to find out the tariff rates on offer.
Moreover, the feed-in-tariff rates can also vary from state to state. Therefore, you should make sure to calculate your figures in advance before you start calculating your savings.
The size of your solar panel system
How much electricity you will save also depends on the size of your solar panel system. Most larger solar power systems, such as 5kW units, produce more power than a smaller 2kW system.
However, the amount of savings depends largely on the size of your solar power system. A larger system can lessen your payback period and will maximize your ROI.
But installing a larger system also means that you are exporting the surplus power back into the grid. In that case, the feed-in tariff will be low as you will be selling power back to your energy provider for much less cost.
Where you are living
In Australia, there are plenty of opportunities for us to harness the power of the sun, since Australia enjoys the highest solar radiation per square meter. Moreover, your geographical location will influence the energy production of your solar power system and how much money you can save.
A solar panel system of 2kW is ideal for the region where the solar radiation is stronger and in the region with less solar radiation, a 3kW unit is good to achieve the same results. Therefore, your location in Australia is an important variable to dictate how much energy your solar panel will produce.
How much percentage of electricity can you save by installing solar panels?
It is estimated that switching on solar panel energy can cut down your spendings on electricity bills by 80 to 85%. Therefore, solar panel systems not only have better saving potential but are pocket-friendly as well.
Why choose Aus-Brite Solar
At Aus-Brite Solar, we help Australian households save on their electricity by providing them cutting-edge solar solutions. We work with the objective of making solar panel systems affordable for all households in Australia.
If you looking for the best solar company Sydney, there will be no better platform than Aus-Brite Solar. Our solar panel systems are designed with 25 years performance warranty. Our solar saver program will be an ideal choice for your homes.
So make a move and contact us to get the best solar services.