Retrospect and what to expect: Australian Solar Prices in 2022 and 2023

Understanding Australian Solar Prices in 2022 and onward

One of the most commonly asked questions by customers “going solar” is this: How much will it cost? While we naturally want to make good investments that offer solid ROI and lower bills, we find it often helps to think more broadly about the variety of measures (time, money, resources, and more) that you can use to determine ROI over time. Enter our wrap on solar prices for 2022.

In this article, we’ll answer questions such as:

• What factors are currently affecting the cost of installing a solar system?
• How much do solar panels cost to install?
• How much does a comprehensive solar system cost to install?
• What solar rebates are currently available in Victoria
• Which Australian state is cheapest for installing solar?
• Which solar panel is currently the best-available in Australia?

…and more.

We hope you’re able to use this information (plus the other handy articles published in our Learning Centre) to make safe, informed and comprehensive decisions regarding your home into 2023, and beyond.

Ready? Let’s get started.

What is the current price of solar?

As is typically the case in November/December of each year, Australians rush to buy and install solar panels, quietly dreading the ever-increasing heat (and bills) of the months ahead. Of course, Australian summers also put us in the very fortunate position of being able to bank in on our most valuable and attainable resource: sunlight!

As reported by SOLARQUOTES, solar system pricing was a bit of a “mixed bag” in November 2022. Based on information gathered from just fewer than 470 solar installer reviews, only one state (Western Australia) “crept in under a dollar a watt installed including any rebates and subsidies”.

Let’s take a look at how the team at SOLARQUOTES sees things sitting across the country as of October/November 2022, and compared with November of the previous year (2021).

The figures below offer an average price per watt installed, including any applicable rebates and subsidies. Note that the size of the average Australian home solar system can sit anywhere between 2 and 12+kW.

The results demonstrated for Victoria are quite interesting – that is, a “big jump” from $0.96 a watt in October to $1.13 in November. According to SOLARQUOTES, this locates the average price of the average Victorian 6.6kW home solar system at approximately AUD$7,500, including any applicable rebates and government incentives.

Victoria, therefore, is lucky to see some of the lowest prices per watt across the country – all the more reason to look into that solar system you’ve been considering for some time now!

What factors are currently affecting the cost of installing a solar system?

Of course, there are many factors that affect the cost and initial investment level of a typical solar system. These include:

• Government incentives and rebates
• Size of the system (most standard home solar systems range between 2kW to 12+kW)
• The size and type of your chosen solar inverter (converts your power into current that can be used by the grid)
• Labour and contractor installation costs
• Type and number of panels required
• Type of framing equipment chosen, plus other elements of the system design
• Style, height and accessibility level of the roof, as well as its surface (e.g. tilling, metal, concrete, or otherwise)

So, this begs the question: with so many variables, how is it ever possible to know exactly how much installing a new solar system in your home will cost you? This is where the expertise of your solar retailer/installer comes into play. And with 15+ years of expertise in the industry plus all of the sought-after accreditations and awards, you know you can rely on G Store for the most solid and reputable advice.

Put simply, we help you take the range of variables above and transform them into a quote that’s easily navigated and understood. Keen to learn more? Give our friendly team a call today on 1300 137 567.

As you’ve read above, one of the most significant factors determining your quote will be the size of the system (and number of panels required).

What size solar system do I need?

The type and size of solar system (for the production of energy at the home) that you choose to install should ideally be selected based on three key factors:

• Physical space
• Home energy requirements
• Price and budget

Also affecting your decision may be:

• Whether or not battery storage is required
• Size restrictions (e.g. rooftop space) at the residence
• The location of the household (e.g. placement and design of panels based on the aspect and location of the residence)

In Australia, the most commonly installed PV solar systems at homes range between sizes of 5kW and 7kW, with a system of around 6.6kW being the most common.

If you’re looking to install a solar system at your home, this is a handy general rule to remember: the bigger it is, the more electricity it can generate, and the less reliance your household will have on the grid. While bigger might always seem better, it’s important to remember that most households will have to “draw a line” at some point, basing their choices on budget, size restrictions re: roofspace, and the other factors we’ve already described.

What solar rebates are currently available in Victoria?

Currently, a variety of solar rebates exist for first-time installers in Victoria. To learn more about these (and how they’re changing into 2023 and beyond), visit our Learning Centre and search for rebates-relevant articles.

Which solar panel is currently the best-available in Australia?

At a glance, here’s what to look for when choosing solar panels:

• Efficiency
• Long warranty
• Aesthetics and design
• Ethical production and ESGs – Environmental, Social, and Governance-related factors
• Ongoing customer support and guidance

When it comes to choosing the best solar panels in Victoria, your friendly, award-winning G Store team highly recommends SolarPower’s Maxeon panels.

Firstly, SunPower Maxeon panels have one of the highest efficiencies on the market. While a majority of panels fall within the 14% to 18% efficiency range, SunPower’s products boast an industry-leading efficiency rating – between approximately 20.1% and 22.8%. It stands in contrast to the comparable LG panel efficiency (approximately 21/7%) and the lower Panasonic panel efficiency (approximately 20.3%). 22.8% as compared to an industry standard of around 17%? Now, that’s efficient!

What’s more, one of the most incredible features of SunPower’s products is their extraordinary, industry-leading 40-year warranty – that’s around the same length of time that SunPower’s been in business! Comparatively, LG – who have now ceased the manufacture and sale of their solar panels – offer a 25-year warranty – that’s still well above the industry average of 10 years for other much cheaper, less efficient products.

Of course, that’s not to discount the quality of an LG panel – in the last seven years, G Store has replaced only two (yes, two) LG panels total (you have a better chance of getting hit by lightning than needing a panel replaced with us!). It’s worth noting too that if you have an existing LG system, your warranty (and ongoing customer support from our award-winning team) still stands.

Wrapping up

When it comes to choosing the best solar system for your budget, there are a variety of factors and variables at play. By selecting the right solar partner to work with, you can easily navigate this brave, new, and exciting territory without all of the fuss, confusion and stress that can come with doing it yourself.

Ready to go solar?

Call our friendly, award-winning team today on 1300 137 567 or check out our Learning Centre for more information.