Uncovering the Financial Benefits of Solar Energy in Australia
Imagine if you could generate your own electricity, shrink your carbon footprint, and save a pretty penny at the same time. Australia’s abundant sunshine dispenses more than just a healthy tan; it offers eco-minded homeowners the chance to tap into solar power. Not only is embracing this renewable resource great for the environment, it’s also financially advantageous. Wondering how? Let’s dive in!
💸 The Financial Perks Explained
Deploying a solar power system in your property does require an upfront investment, but the costs have significantly decreased over the years. According to the Clean Energy Regulator, an average solar PV system price in Australia has dropped by about 45% since 2012. And once you’ve set up your solar system, the financial benefits become quite clear.
Energy Bill Savings
With a solar PV system, your household can generate enough electricity to meet a significant part of your energy needs, reducing your reliance on the grid. The Australian Energy Market Operator estimates that a small system (5kW) can generate up to 22 kWh of electricity a day, which can offset a typical household’s daily use.
Feed-in Tariffs
Feed-in tariffs provide another avenue to save money. Any excess energy your solar power system generates can be fed back into the grid, and you’ll get paid for it. The exact rate varies from state to state, but according to Energy Consumers Australia, it can range from 6 to 20 cents per kWh.
⚡ Government Rebates and Incentives
Government entities in Australia have also put measures in place to encourage solar energy use among homeowners. Two popular ways they provide financial support are through the Small-scale Renewable Energy Scheme and the solar battery rebate.
Small-scale Renewable Energy Scheme (SRES)
Under the SRES, you can earn small-scale technology certificates (STCs) for eligible solar PV installations, which can be sold or assigned to recoup a portion of the installation costs. The number of certificates you receive depends on factors such as the system size and location. Based on data from the Clean Energy Regulator, the STCs can offer a discount of up to $3,500 on solar systems.
Solar Battery Rebates
These rebates support the installation of solar battery systems. For instance, Solar Homes offers eligible Victorian households a rebate of up to $4,838 on solar battery installations, according to the Victoria State Government website.
💬 “The upfront cost of solar installations may seem intimidating, but the long-term savings combined with government incentives make it a sound investment” – Energy Consumers Australia
🚀 Want to Maximise Your Savings?
At Supa Energy Hub, we help homeowners unlock every rebate and incentive available – while designing the perfect solar and battery solution for your needs 💪
📞 Call us today or send us a message to book your free savings assessment!