With Albanese’s government dropping the recent Federal Budget at the end of last month, the terrifying reality of the increased cost of living pressures was made apparent, particularly regarding electricity costs.
Over the next two years, Australian power bills are expected to rise by 56%.
In 2022, the average annual electricity bill is approximately $1,900 for a 4-person household; expect that figure to rise to $2,964 p.a. for the same-sized household by 2024, according to the Budget’s predictions.
We don’t need to emphasise the enormous burden this will place on many Aussie families.
Figure Below: After Two Years of Wholesale Electricity Price Decreases, Wholesale Electricity Prices Have Risen Sharply
Is Solar the Solution to the Federal Budget's Predicted Energy Price Hikes?
At a Government level, renewable energy is being viewed as the key solution to creating access to clean, low-cost energy.
The Federal Government has promised almost $25 billion to clean energy spending and is aiming to have 82% of the electricity network running from renewable sources by 2030.
The bottom line is, incorporating renewable energy, such as solar, is the most effective way to creating a long-term solution to rising energy prices.
Homeowners should be following the same approach if trying to reduce their own power bill costs. The age-old advice of switching off wall plugs and turning off lights unfortunately isn’t going to cut it anymore - at least, not enough to see a drastic reduction in electricity costs for your home.
With increased technology usage with every passing year, it is no longer reasonable to assume that those common little ‘tips and tricks’ will help with saving money on bills over the long-term. Instead, we need to be looking for ways to cut costs without compromising on lifestyle.
Solar offers homeowners the ability to cut energy costs without compromising lifestyle.
Installing solar is a long-term investment that pays itself off over time, leaving you with a reduced power bill and the ability to retain or increase your household’s power consumption.
Solar works its magic during the day, by converting sunlight into usable electricity for your home. This means that any energy-consuming appliances and devices you use during the day will be powered directly from solar power, rendering electricity from the grid to function only as a backup.
Essentially, while the sun is shining, you are powering your property through free and renewable energy.
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There are a multitude of ways to improve solar self consumption also, to maximise the use of the solar energy your system produces. For example, running the dishwasher, washing machine, and temperature control during the day will shave off a substantial amount from your power bill, simply by switching from using these appliances from night to day.
On average, our customers save over 50% on their annual electricity bill once they have a quality solar system installed. Customers who have a battery connected to their system can completely eliminate their power bill, as the battery allows them to use excess solar energy generated during the day at night.
Read more about storing excess solar energy with a solar battery here.
Solar also pays itself off over time; the savings on your electricity bill will recoup the investment costs of proceeding with the system. On average, our customers have a payback period of approximately 3-5 years until they pay off the system in its entirety and can truly begin to enjoy the benefits of using solar.
Considering that most quality components have a warranty period between 15-20 years, that’s a huge amount of money to be saved in comparison to a short payback period.
Solar Will Only Save You Money When Installed By a Reputable And Long-Standing Installer
It is critical to choose your solar installer carefully if you decide to proceed with solar. Unfortunately, the solar industry is fraught with companies whose aim is to make a quick buck with a cheap install with cheap components. If you think the price is too good to be true, then it probably is.
Always choose a solar installer that has been trading for at least 10-15 years. A long-standing installer will be able to honour their warranties and service guarantees. A ‘solar orphan’ is someone whose installer has fallen out of business and thus has no points of contact for warranty claims or system support (unfortunately, this happens a lot more than you may think!).
Your solar installer should also complete a site inspection and analysis of your personal energy needs, to design a system that is most suited to your energy goals. On-site inspections are preferable, as this will help to avoid any hidden fees or additional costs that may be incurred come the day of installation (as pricing is always subject to inspection).
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In summary, the most important things to look for when selecting an installer are evidence of customer testimonials focused on reliability and honesty, a high standard of workmanship, warranty periods, and quality components.
Springers Solar | Queensland's Most Experienced Solar Installer
Springers Solar provides quality components with proven performance, backed by industry-leading warranties, and dedicated after-sales support. Thousands of satisfied customers over more than 20 years of operation make Springers Solar one of the most established and experienced solar companies in Australia.
Springers Solar has received multiple awards for design and installation and is a certified/preferred installer for a large range of solar panel, inverter, and solar battery manufacturers, including Tesla, REC, and SolarEdge.
Our dedicated in-house team of electrical engineers, project managers, solar PV designers, solar installers and electricians work closely with you before, during, and long after your project is completed. Springers Solar offers an industry-leading 10-year workmanship warranty which is a testament to our qualified staff and offers you outstanding value and peace of mind.
Is Solar The Only Way To Avoid a 56% Increase To Your Electricity Bill?