Installing solar could save households $1400 a year, experts say
A green energy expert says homeowners could be losing up to $1408 on their power bills. Here’s how you could shave your bill to just $86 a quarter – after some initial outlay.
South East
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Homeowners could be losing up to $1408 a year on their power bills by not making the switch to solar, a green energy expert says.
With the global pandemic forcing people to look at their expenses, SolarQuotes founder Finn Peacock said investing in solar power made solid financial sense.
“By using a low-rate green loan from a regulated financial provider you could get a cashflow positive solar system up and running, and from the get-go reduce your quarterly expenses almost immediately,” he said.
“Assuming you own a roof that is not shaded, to do nothing would actually cost you more.”
Mr Peacock gave the example of a Victorian household paying $500 on their quarterly power bill.
Installing around 20 panels (6.6kW) of solar could cost about $3550 – if you included the Victorian solar rebate of $1888 – but could take your quarterly bill down to just $86, he said.
Compiling data from the Bureau of Meteorology, Australia’s Clean Energy Regulator, council and Census statistics, SolarQuotes revealed Carrum and Patterson Lakes had the highest uptake of solar energy in greater Melbourne, with about 17 per cent coverage.
It was followed by Alphington and Fairfield (16.9 per cent) and Altona Meadows, Laverton and Seabrook (16.6 per cent).
At the lower end of the scale was Toorak with 4.7 per cent, North Melbourne with 5.6 per cent and Prahran and Windsor at 6 per cent.
Mr Peacock said people could search for their suburb at the SolarQuotes website to find out any council requirements, optimal panel angle and orientation for their area and local solar installers.
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Homeowners could also use the website to calculate and predict bill savings with solar or batteries.
Victorians are eligible for a state solar rebate of up to $1888 if they are the owner-occupier of their property, have a combined household taxable income of less than $180,000 per year, it is for an existing property under at under $3 million and they do not have an existing solar panel system.