During these times with more people at home power bills will increase. Solar pays for itself and saves you money from day one and keeps doing it for years. Now more than ever, solar makes great financial sense.
When you consider these seven top reasons for getting solar power installation now, you realise why many families regard solar as essential in helping provide economic security for the household, and why now is the perfect time to go solar.
1. More People Now Working From Home And Power Costs Are Rising
With the pandemic there have been changes to our lifestyles. We have seen an increase in people working from home. Even with workers returning the to the office, we are seeing more flexibility in the work place.
This has led to many office workers now choosing to work from home at 1 to 2 days per week. Employers are allowing this flexibility. it helps keep their workforce happy in a tight employment market.
One of the outcomes of these circumstances is that daytime power use will immediately increase for families.
On top of this in July 2022 power prices rose up to 17%, and more increases are predicted. Consequently, power bills are rising again. By installing solar now, you will avoid the possibility bill shock and it will help secure your energy future.
2. Solar Works From Day 1 On Reducing Your Power Bills – And Keeps At It For Years
By deferring solar you will still have to pay increased power bills – and otherwise paying money out to the power company that could have been invested in solar. Your next three $700 power bills would pay for more than half of the system. Instead, if you defer, it will go from your pocket into the power company coffers.
The best thing about solar is it reduces your power bills from day one. It is an investment that pays for itself and will give you returns for many years into the future for the life of the system.
A typical 6.6kW system installed in Sydney will produce around 9,300kWh of power per year. A kWh of power you buy from the power company costs around $0.29. If you can use 70% of the power it produces (6,510kWh) it will save you almost $1,900 per year! The system will pay for itself in under 2 years.
After 2 years it just keeps saving you money for the life of the system. After 15 years it could save you over $20,000. Why delay? Help secure your economic security now. Every month delayed costs you money.
The image above shows the dramatic difference from one bill to the next after installing solar.
3. Finance Options Available
If you do not want to outlay the outright cost of a solar system SolarBright has options available for you. With no upfront costs and for less than the cost of a coffee a day you can help secure your economic future.
In many cases it is a cash flow positive situation where the savings from the systems will cover the cost of the coffee and put some money in your pocket.
Imagine that instead of having to fork out for a surging a power bill all you need is less than a coffee a day to own a system that is covering this cost anyway in most cases! And if down the track you are in a position to payout, you can.*
4. Aussie Dollar Uncertainty
Another thing to consider is that the Aussie dollar has been on a roller-coaster ride since March. By delaying getting solar now you may be exposing yourself to price increases down the track.
With most solar panels and inverters imported from overseas, many vendors are now flagging that they will have to increase prices for these components and these price rises will be passed on to consumers.
By getting solar now you reduce your exposure to the volatility of the currency markets and any coming price increases.
5. Government Incentives Decreasing
Each year the government incentives for solar decrease by 7%. These are the Small Technology Certificates or STC’s.
On a 6.6kW system the current government incentives amount to $3,600 – take advantage of these current incentive rates in 2020 by installing solar now.
6. Solar Is Perfect If You Are On A Fixed Income
Another consequence of the volatility in financial markets is that for people relying on fixed incomes from investments is that their incomes may fall.
One of the ways to combat a falling fixed income is reduce your fixed and variable expenditure or costs. As discussed above solar reduces your power bills and can put money in your pocket from day one and continue to do so for many years.
If you do not invest in solar you will still have to pay your power bills. Even with modest bills of $250 a quarter that is $10,000 of dead money over 10 years.
7. Solar Is Good For The Environment
Solar produces clean, free energy making solar great for the environment. A 6.6kW system in a typical installation in NSW will offset over 8,000kg of carbon emissions per year, adding up to 160 tonnes over 20 years.
So not only will the system pay for itself it will also make you feel good that you are doing your bit to help the environment.
With all these reasons going solar now if you can is a wise and sensible decision.
SolarBright is Clean Energy Council Approved Solar Retailer and since 2008 we have helped over 11,000 customers and businesses across NSW save thousands off their power bills with solar.
Solar is classified as an essential service and during the restrictions imposed by the response to COVID-19, SolarBright is able to continue to safely supply and install solar with procedures designed to keep our customers and employees safe during the journey of going solar.
For more information you can check our web page covering this topic.
