There are many financial and environmental benefits that an investment in solar power can bring to you and society as a whole.
Environmentally, solar panels will help reduce your carbon footprint significantly. Financially, solar panels typically deliver good savings and help to reduce your electricity bills.
Advantages of solar energy
Solar panel benefits include:
Better for the environment
Produce clean, renewable energy
Reduce your electricity bills
Secure a rebate
Increase the value of your property
Environmental benefits of solar panels
There are numerous environmental benefits of solar panels. Once manufactured, your solar panels will generate clean, renewable energy for your home. The installation of a 6.6kW solar system will reduce greenhouse gas emissions by over 250 tonnes in its lifetime (Victoria, Australia).
Solar panels reduce air pollution, as there are no pollutants associated with the generation of solar power.
Save money and reduce your electricity bills
Our analysis concludes that solar panels are financially worth it in almost every instance. A 6.6kW solar power system can save you as much as $1,200 – $2,000 per year, and will significantly reduce your electricity bills. Payback periods for solar panel systems can be as low as four years, and are typically not longer than 7 years.
If you buy quality components, your solar panels can deliver savings for 25 years or more. Lifetime savings of solar panels can be greater than $50,000. Our solar savings calculator will help you estimate your financial benefits.
You get a rebate on your purchase
When you buy a new solar system in Australia, you will receive a solar panel rebate that will reduce the cost of your purchase. Rebates can typically save you around $3,700 off the cost of a new solar system.
*To receive your rebate, you must buy Clean Energy Council approved components, and have your system installed by an accredited installer.
You get paid for your excess solar energy
You will get paid whenever you export energy from your solar panels back to the electricity grid. For every kilowatt hour (kWh) of energy you export, you will receive a feed-in tariff from your electricity retailer.
Solar panels require little maintenance
Once your solar system is installed, it will likely require very little maintenance. Typically, solar panels do not even need to be cleaned. The inverter may need replacing after 10 – 15 years, but this is the only additional cost you may incur throughout your system’s life.
Add value to your home
All things being equal, solar panels will add to the value of your home.