Are solar panels worth it? | Year Of The Ox

 

Celebrated by many, the festivities of the Chinese New Year is renowned for their spectacular performances, elaborate fireworks and ritualised dragon dances.

With each new year, the Chinese zodiac follows a twelve-year rotation- each represented by one of twelve animals.

This year, the chosen zodiac is the Year Of The Ox. Proclaimed second on the calendar, the oxen is hardworking, dependable and industrious– similar to that of a solar panel.


Solar OX

Solar System Return On Investment

Solar panels are a dependable asset with a quick return on investment (ROI).

If your energy bills are around $350 per quarter and you install a 6kw solar system, it only takes 2.6 years for the solar system to generate you enough savings that it covers the cost of its purchase.

As solar panels can last up to 25 years, you have the ability to pocket over 22.4 years’ worth of savings.

In the business world, a 10% annual ROI is considered successful. By this logic, achieving a 100% ROI can take up to 10 years!

When it comes to solar, you can achieve full capital 90% faster!

The Long Life Span Of A Solar SystemCan-solar-panels-be-recycled-&-upcycled

Solar panels are hardworking and never take a day off from generating you free electricity!

Their longevity is one of their defining assets as they can last up to 25 years.

Although solar degradation is inevitable, a good quality solar panel will have degradation rates that will barely affect the performance of your system. On average, solar panels will still carry up to 80% output efficiency even after the 25-year estimate!

Solar Panel & Low Maintenance

Solar panels are industrious and are relatively easy to maintain.

Due to their average 10% pitch, rain will naturally keep your solar panels clean, however, an annual wash with cool water and a brush will help to remove built up leaves, grime, sap and bird excrement.

Yearly checks are also recommended to aid the longevity of your system. Check out our solar panel maintenance checklist to keep your system providing well into the future.

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Three Solar Quotes

Ready to celebrate this Chinese New Year in the true spirit of the Ox?

Solar Market connects you with 3 free solar quotes from local CEC accredited installers in your area so that you are confident your receiving a product that is as tough as an Ox!

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Beginners Guide to Solar Power

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Become an expert and better understand the ins and outs of solar power and solar PV systems for your property.

Includes detailed explanations and diagrams of the various types of solar systems and their parts, solar battery storage systems, Government incentives, expected ROI periods, finance, energy saving tips and more!

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Understanding Batteries

Off-Grid Systems

For some households a battery system can be of great benefit and minimise a home’s reliance on the grid. However, it’s important to understand for a battery to be useful your solar system needs to be generating excess energy for the battery to store, which you can then use at night or when the sun is not out.

When selecting a battery, you’ll want to invest in a system that is most suited to your home and can drive the best return on investment (ROI). Despite a larger upfront cost, a higher quality battery may significantly increase your ROI.

    Battery systems start from $6,000 and costs can vary greatly based on the following factors:

  1. Cycle Life-Time

    The number of times a battery can fully charge and discharge.

  2. Battery Power (kW)

    How fast it can be charged or discharged.

  3. Storage Capacity (kWh)

    The maximum amount of energy a battery system can store.

  4. Battery Management System (BMS)

    An electronic ‘smart’ system that gathers data and manages the battery ensuring it does not overload or operate outside of its safe functioning zone..

  5. Inverter

    Battery systems require their own inverter if your solar system does not have a hybrid inverter.

  6. 'All-In-One Unit’

    A system which includes the battery, BMS and an inverter all in one unit.

  7. Warranty

    Length of time or cycles the battery system is under guarantee.

  8. Blackout Protection/Backup

    It’s important to note this is not a common feature of a battery system and could cost thousands of dollars to include. Blackout protection not only requires additional components but also a specialised installation and rewiring. For grid-connected homes, the cost for blackout protection can outweigh the benefit.

Additionally, if your purpose for adding battery is to go Off-Grid and become completely independent from the grid you will need to ensure your solar system can generate enough energy to power your home and your battery system is large enough to store this energy. For homes in metro areas going Off-grid is not cost effective and is only recommended for those in remote areas with limited access to the grid. Off-grid solar systems with battery start at approximately $30,000.
 

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