3 Short and Long-Term Benefits of Getting Solar Panels
Most people now acknowledge that solar energy has emerged as a leading sustainable solution for households and businesses alike, providing numerous benefits in terms of both the environment and your back pocket.
By harnessing the power of Australia’s ample solar energy resources, solar PV panel systems offer a range of advantages that extend beyond just energy savings.In this article, we explore three short and long-term benefits of installing solar panels in your home, including:
Financial savings including government incentives
Lower environmental impact
Energy independence and reliability
With over 15 years of expertise, G Store’s award-winning solar team is her to help you thrive in an ever-evolving market of exciting possibilities.
Ready to discover the far-reaching benefits of installing high-quality solar panels in Victorian homes? Let’s do it.
1. Financial savings and benefits
One of the most appealing aspects of solar panels is their ability to generate substantial financial savings over time.
While the average cost of a household solar PV panel system depends largely on your specific requirements and building needs, even the highest-quality solar system is likely to pay itself off within a few years’ time.
Here are a few key statistics to consider:
According to the Clean Energy Council, a typical Australian home with a 5 kW solar system can save up to $2,000 per year on electricity bills.
The Australian Government’s YourHome website estimates that installing solar panels can generate an average return on investment of 20% or more, depending on various factors such as system size and location.
A study by the Australian National University found that solar panels can increase a home’s value by an average of $29,000. This means that homeowners can recoup a significant portion of their investment when selling their property.
What’s more, current government incentives in Victoria have now made solar panels an option that’s more accessible than ever before. In fact, choose an average-sized residential solar panel system and you’re likely to be “out of pocket” by only a few thousand dollars – a cost that should really be considered a huge investment, as it will likely pay for itself within just a few years.
2. Reducing your environmental impact
By transitioning to solar energy, you have the opportunity to significantly reduce your carbon footprint and contribute to a cleaner, greener future. Consider these compelling statistics:
According to the Australian Photovoltaic Institute, a 5 kW solar system can offset approximately 8,000 kilograms of CO2 emissions annually, which is equivalent to planting around 200 trees.
The Clean Energy Regulator reports that by the end of 2020, Australia’s solar installations had collectively reduced CO2 emissions by over 45 million tonnes, making a substantial contribution to the country’s emissions reduction targets.
The Australian Energy Market Operator predicts that by 2040, solar energy will be the largest source of electricity generation in Australia, accounting for over 30% of the total energy mix. This shift towards renewables will have a profound positive impact on the environment.
3. Improving energy independence and reliability
Solar panels are incredible for many reasons, another of which is the ability to increase your energy independence and the reliability of your home’s systems, which can be especially beneficial during power outages or disruptions.
Pair your solar system with solar battery storage and you can increase the reliability of your system even further. Imagine never again having to worry about outages – and with membership to a Virtual Power Plant (VPP), you can even start making money from the excess energy you generate and store.
The following statistics are worth taking a look at:
The Australian Renewable Energy Agency reports that solar panels, combined with battery storage systems, can provide households with up to 90% energy self-sufficiency, reducing their reliance on the grid.
In regions with high solar penetration, such as many Victorian locations and some across South Australia, solar energy has played a crucial role in reducing the risk of blackouts. The state achieved a record of 100% solar energy contribution to its electricity demand in October 2020.
A survey conducted by the Climate Council found that 79% of Australians believe solar and battery storage systems increase the resilience of the electricity grid during extreme weather events.
Are you interested in finding out more about making money from your solar PV system once it’s installed? Give our friendly team a call today on 1300 766 940 to find out about our exclusive Virtual Power Plant (VPP) program with Simply Energy which includes a brand-new Tesla Powerwall solar battery.
The decision to install solar panels is an incredible option for homeowners in today’s volatile and every-changing economic conditions.
Solar panels offer homeowners and business-owners alike a range of benefits, including financial savings, a lowered environmental impact, and complete energy independence – depending on the size and extent of your solar system and solar battery storage.
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