If you’re currently weighing up whether solar panels are worth it for your family home, you’re no doubt taking a long, hard look at the rising cost of energy bills.
So we’ve done the research for you, and consulted the solar experts from Solahart, to delve into the benefits of solar panels, and reveal why they are worth buying in 2023.
While every family’s situation and energy consumption is different, the takeaway is that solar panels are a great investment, and more than three million Aussies have already made the switch.
Why are solar panels worth it?
There are several different factors to take into account when looking at why solar panels are worth the investment – from initial cost to what you can expect to save and even the longevity of the solar panel system.
Solar panels save you money
There’s no getting around the fact that Australians are going to be paying more for their electricity in the near future – in fact some of us are set to cop a possible 30% price surge. So drawing free energy from the sun seems like a no-brainer!
The initial outlay for a typical 6.6kW solar panel system is between $5,500 to $10,000, and generally the system will pay for itself in savings in between four and six years. And a high quality system should give you savings for the next quarter of a century.
Solahart Product Category Manager Sean Box says there’s no exact figure on how much an Australian family can save with solar, because of several variables: how much energy the household uses, where the house is located, accessibility and roof size.
“However, if households are solely relying on the grid to power their home, switching to a natural energy source like the sun is a smart financial choice,” Sean explains. “Solar remains one of the best options for both your wallet and the planet. Households with solar can expect to see savings in the thousands each year on energy bills, depending on how they use their system.”
Here’s a couple of examples of families who have saved by installing solar with Solahart:
Solahart Product Marketing Manager Anurag Mitra says there’s no question that solar panels are worth it, with Australian families saving on electricity bills, contributing towards generating green energy and helping the environment.
“In a more general sense, let us consider a case where a customer is paying 30c per kW, and installs a 5kW solar system with a daily output of 20kWh,” Anurag explained. “Assuming the entire daily energy output is used on-site and not exported back to the grid, in such a case the potential saving is about $2,190 for the year.
“This is a very broad estimate and the best way to understand the exact savings for the household and the return on investment, it is best to get in touch with the Solahart sales team and get an obligation-free quote. Our quotes are site-specific and include the ROI and savings details for the customers to enable them to make an informed decision.”
Are solar panels a short-term or long-term money saving strategy?
According to Solahart Product Category Manager Sean Box, solar is an effective long-term solution to help protect families from rising energy bills, as well as ensuring reliable energy supply. And they may also increase the resale value of your home.
“In fact, the Australian Government is predicting a 56 per cent hike in power prices over the next two years. When considering the long-term investment, aside from savings on household energy use, installing solar will add value to your home at sale time.
“Findings in the 2022 Domain Sustainability in Property Report revealed that properties with energy-efficient features not only sell faster but also sell at a premium. According to the report, sellers can expect to achieve $125,000 more for an energy-efficient home, including those with PV systems and battery storage solutions.
“Domain’s research proves that Aussies are willing to pay more for an energy-efficient home as this will help with household bills in the long run and contribute to a more sustainable future. Solar is a win-win for delivering reliable and sustainable energy today and a higher value to your home tomorrow.”
What’s the cost involved with installing solar panels?
There’s no one flat cost when it comes to installing solar panels, the price varies depending on the size of the system and the company installing it.
But it’s worth noting that when it comes to solar, you get what you pay for.
“There is a wide range of prices and system sizes in the market,” says Solahart Product Marketing Manager Anurag Mitra. “The important questions you should ask are:
- How long has the company been around?
- Are they providing me with the best solar solution to suit my individual needs?
- What warranties do they offer or do they just pass through the warranties from their suppliers?
“The costs associated with installing solar power will vary based on the size and quality of the system and installation complexity. A good quality 6kW system will cost around $6,000 after STCs. However, if you focus on cost alone, be careful of what you pay for.
“Regardless of the cost of installing solar panels, the focus should be on the savings you get from government incentives to help you make the switch as well as energy savings from day one.”
What are the main concerns Australians have about solar panels?
According to Solahart’s experts, there are three main areas of concern:
- What happens to excess energy generated by solar panels?
- What happens when it rains?
- What size system is best?
What happens to excess energy?
Solahart Product Category Manager Sean Box says people are often concerned they will lose excess energy generated by their system, to the grid.
“Excess solar energy doesn’t have to be ‘lost’ to the grid. Power storage solutions allow solar homeowners to keep the energy they’ve generated for future use. With systems like Solahart PowerStore®, Australia’s first smart solar hot water system, which uses excess solar power to heat your water, or a wide range of batteries, you can keep your additional energy for future use.”
What happens when it rains?
“Solar continues to work on cloudy, wet and cold days, as panels use both direct and indirect sunlight to generate power,” Sean explains. “While the efficiency of solar panels may be reduced after a series of low-light days, that doesn’t mean being left without power.
“By monitoring your energy and managing your appliance usage – for instance, turning off the pool pump on rainy days – you can make sure you always have access to power, without relying on the grid.”
What size system is best?
“There are often queries and concerns around the right size of the system, is my roof big enough for the system, how much can I save, what is the warranty of the system and how it works etc,” says Solahart Product Marketing Manager Anurag Mitra. “I suggest that customers should talk to established retailers and experts like Solahart to provide the quote and address all the customer queries and concerns.”
So, the upshot is, yes, solar panels are worth it in 2023, when taking into consideration the cost of living and rising energy bills. It’s also an investment in a more sustainable future. Investing in a high quality system, that’s designed to last and delivered by a company like Solahart which has just celebrated its 70th year in solar, is key to ensuring your investment continues to save you money for decades to come.
Mouths of Mums is proudly working with Solahart to bring you this article. Solahart has built a reputation as a world leader in solar innovation and technology and invested millions of dollars into R&D and manufacturing and installed over 1 million solar water systems in over 70 countries around the world and over 1 million solar panels in Australia alone.We may get commissions for purchases made using links in this post. Learn more.