Do Solar Panels Save Money?
Yes - solar panels can be one of the best investments you can make. Solar can save you serious money and add value to your property.
Investing in solar makes sense particularly if you buy good quality equipment that's designed to last - YEF can help you with this! We'd encourage everyone to consider more than just the upfront cost, like any energy using appliance. With solar, it's best to look at how much energy your system will generate and therefore how much money it can save you. This is exactly how YEF can help guide you in choosing the right solar system for you.
How Long Does It Take for Solar Panels to Pay Themselves Back?
For good quality solar panels/inverter, you’ll find that the Return On Investment (ROI) is roughly 4-6 years, depending on your energy consumption. For high-end equipment systems will save you more money over the longer term due to their higher performance and slower rate of degradation.
How Do Solar Panels Work?
Solar uses light to generate electricity, which is then used to power your home. Here's the skinny of it:
- The sun's light (photons) is absorbed by each solar panel
- The silicon and conductors in the panel convert the light into Direct Current (magic in the old system, science in modern times) electricity, which then flows to the inverter.
- The inverter converts the Direct Current (DC) into Alternate Current (AC), which is the form of electricity that can be used in your home or business.
- Any additional electricity that's not used by your home or business is then fed back into the grid (if you have battery storage, you can send your additional electricity to your battery bank and draw down on this at night when your panels aren't producing electricity).
- When you need more power than your solar system can produce, you draw from the grid the same as you did before solar.
What’s the Best Way to Use Solar Panels?
YEF can give you all the tips to getting the most out of your solar system - the easiest way is to ensure your biggest electricity using appliances are used during daylight hours which can really positively impact your retail bill. Even if you’re not home during the day, you can use the delay start function on washing machines, dishwashers, clothes dryers, whereas heaters, air-conditioners, pools and spas can be programmed to run at the time that your panels are producing the most power.
Do Solar Panels Work on Cloudy Days?
Solar panels still work on overcast or cloudy days, but they don't produce as much electricity as they would on bright, sunny days. Where possible, use energy-heavy appliances on those bright, sunny days.
How Do I Know What’s a Good System and What’s Not?
There’s huge variation in the quality of solar power systems in Australia, so it makes sense to know what to look for when buying a system.
The trick is to buy equipment (panels and inverter) that’s made by major companies that have been manufacturing solar panel components and inverters for at least 10 years.
The general rule of thumb is ‘you get what you pay for’.
More than 90% of solar panels these days are made in China. TrinaSolar, Jinko, SunTech and REC are reputable Chinese brands, but many others are best avoided.
Currently, battery storage systems cost anywhere from $7,900-$12,400 for 6.5kWh – 14kWh of storage. If you want to learn more about batteries, please contact us.
Who Should I Choose To Install My System?
Just as important as the quality of the components you choose is the quality of the installation, as many corners can be cut by unscrupulous installers - which does and continues to happen!!!
We recommend having your solar panel system installed by a company that’s been installing solar panels for at least 7-10 years, is accredited with the Clean Energy Council and consistently receives good (independent) reviews on solar comparison websites. Please contact us and we can provide you with quotes from our Preferred Solar Panel Providers who we stringently vet.
Are There Still Rebates Available?
Yes. The Federal government is still making a generous contribution towards the cost of systems (around 25% of the overall cost – around $3,800 for a 5kW system, however these a reduced year-on-year until nothing by 2030).
The Labor Government of Victoria are offering up to $2,225.00 off the cost of your Solar system. Please contact us for more details!