There are many reasons to go solar. For one thing, the cost of going solar has never been lower. You can save money on electricity bills by generating your power and selling the excess to the grid. At first glance, the cost of purchasing or leasing solar power in Whitsundays may seem high. However, many incentives available from local utilities and government agencies will help offset these costs over time and make a home more energy efficient overall, which also helps save money down the road.
Whitsundays currently has 562 large-scale solar power projects with a combined capacity of 6,563.4 megawatts either in operation, under construction or contracted for construction in Australia. This is estimated to be enough electricity to power over 1.25 million homes.
Saving money
The most significant benefit of solar power is the money you’ll save. How much is this? Well, according to the Department of Energy, if you install a 10 kW solar system, and it’s located in an area that receives 5.5 hours of direct sunlight per day on average, and your electricity costs $0.115 per kWh:
- You could save between $1300 and $1650 per year, depending on how much power your home uses! That’s over $10,000 over the life expectancy of your panels (25 years).
- This means installing a typical 6 kW system would pay for itself within 15 years! That’s a pretty quick return on investment for any investment.
The cost of going solar
Once you have solar panels installed, your electric bill will be reduced by 80% or more. In the long run, this can save you money in a variety of ways:
- You won’t have to pay for electricity from utility companies because your house is self-sufficient.
- You won’t need to worry about rising energy costs and associated taxes on electricity. This will help keep your investment safe.
As a bonus, if you sell your home in the future with solar panels installed, they’re likely to add value!
Incentives and credits from your local utility and government
Several incentives and credits are available to help offset the cost of going solar. These can be provided by local utilities and your state or federal government, depending on where you live. In many places, these incentives are offered in addition to other financial support programs for low-income and disadvantaged populations.
To find out more about what is available in your area, contact your local utility company or government representative directly and ask about their solar programs.
Purchasing or leasing a system
You’ll want to consider the pros and cons of purchasing or leasing a system. This critical decision will impact your energy costs for years to come.
The advantages of purchasing include:
- You own the equipment, so there’s no risk of it being sold or transferred (as with a lease).
- You have all maintenance costs covered under warranty.
Solar power can save you money over time.
Solar power is a great way to go if you’re interested in making your home more environmentally friendly and saving money on your electric bill.
Solar power in Whitsundays isn’t cheap to install, but it will save you money over time. A typical five-kilowatt system costs around $15,000 (this price fluctuates). If you install solar panels on your roof or garage, which can be a good idea if you live in an area with an average of 300 days of sunshine per year, it will take about eight years for the panels to pay for themselves through reduced utility bills and tax credits from the government—and then they will continue generating electricity for decades afterwards!
Conclusion
Solar power can be an excellent option for your home or business if you want to save money on your energy bills. There are many different ways to go about it, and each option has its benefits, but the bottom line is that solar power will save you money in the long run. You need to decide what kind of system best fits your lifestyle and budget before making any decisions on purchasing equipment or signing up for leasing plans.
