With the rising cost of power bills in Australia, everyone is looking for a way to save money on their utilities. The good news is, a solar power system can save you money on your utility bills and is great for the environment too.
Adding a solar power system to your home can also add value to your property and be very appealing to buyers if you’re ever selling your house. There are also a number of different solar solutions you can use in your home for more savings.
This article is going to cover all the ways a solar power system can help you save money on your utility bills.
What is a solar power system?
A solar power system is made up of two major parts – photovoltaic (PV) modules and inverters. PV modules are the panels that capture sunlight and convert it into electricity while the inverters are the components that convert direct current (DC) electricity from solar panels to alternating current (AC) which is used in homes. The PV modules and inverters are usually mounted on a roof and connected to the grid, allowing you to take advantage of free energy from the sun.
How a solar power system can help you save money on your utility bills:
Generate your own electricity.
Having solar panels installed by a licensed electrician will help you generate your own electricity. This means you’re not paying the electricity company for supply, cutting down on your power costs.
Solar can be used in both residential and commercial properties in Australia, helping you both at home and in the office. It can be used to power hot water (in the home and pool), lights, electronics and more.
If you’re concerned about running out of electricity during the cooler months when there is less sunlight and more cover, don’t be! Modern solar panels run off direct and indirect light, so they charge even when there are clouds about. Rain can even help keep your solar panels clean, so it isn’t a bad thing either!
Take advantage of incentives.
“But I don’t have the money for solar panels right now…” You may not need to!
The government wants us to use solar power. So, there are many incentives out there for home and business owners to install solar energy in their properties.
You may be able to receive a tax credit, grant, loan or other deal just for switching to a greener energy source.
These funding and support deals for solar are there to help you save money on getting setup and on your utility bills in the long-run.
Avoid rising energy costs.
Power prices rose around 18% in 2022 alone in Queensland. There has never been a better time to use a solar power system to save you money on your utility bills!
There are so many different ways you can implement solar in your home, from solar pool heaters and hot water systems to solar power systems to run your whole house from. With more and more people working from home, it could be a way to lower your energy costs.
With energy prices rising and not looking to slow down any time soon, solar is the smart choice. There are solar power systems for your home, pool heating, hot water system, business and more. It’s simply a matter of calling your local solar power system provider and saying, “Hook me up!”
Increase your property value.
Now, selling your property isn’t necessarily saving money on your utility bills. But the increase in value solar panels can add to your home (and the huge buying potential) is going to make your wallet very happy.
Homes with solar power systems are not only increasing the value of Australian homes, but helping them sell quicker than ever too.
Whether you’re offsetting part of your energy usage or are running solely is still a big selling point. It could be the difference between someone buying your home or the one down the street!
Greener energy commercial properties are also more in demand than ever before. If you’re selling or developing a commercial property, take a look at how investing in solar could benefit your back pocket!
But how much does solar cost?
A solar power system can run from a couple of thousand dollars to tens of thousands of dollars. It all depends on your power and system needs. Remember, you may be eligible for government support for installing solar, so if you’ve been thinking about it, it’s more than worth looking into.
Contacting your local reputable licensed solar insurer is your next step to get a quote to cover your needs.