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Solar Panels for Home – Things You Should Know

The past decade increased the usage of solar panels for homes. Many homes and businesses across the country are transitioning away from the fossil-fuel electricity grid towards a clean energy economy that uses solar and wind energy. Learn everything there is to know about the thriving residential solar industry.

The Important Things About Home Solar Panels in 10 Questions

1. How Much Has the Price of Home Solar Dropped in Recent Years?

The cost of solar electricity has been dropped significantly over the past decade. With the 58% price drop globally, solar energy is now cheaper than retail energy in some of the capital cities in Australia. Now, a standard 6.6kW solar PV system would cost between $4000 and $6000 in most Australian states. The introduction of local solar rebates also had a dramatic effect on the cost of solar.

2. What Is the Difference Between Solar for Home and Solar for Business Use?

The residential solar systems tend to have a consistent size (between 6kW to 12kW on average). Due to the relatively small scale of rooftop solar panels for homes, it’s a reasonable energy upgrade that can generate significant utility bill savings for homeowners. On the other hand, commercial solar projects may vary in size and cost. A commercial solar system requires a major investment. But in the long run, they also save a lot of money from energy costs.

3. How Much Does the Residential Solar Panel Systems Typically Cost?

The price of a new residential solar panel depends on how big the installation is or how many kilowatts (kW) of power is generated by the solar panels. The cost for solar systems is heavily subsidized by the Australian solar rebate schemes. The rebate varies according to the value of STCs. The cost of the solar system with different size are shown below.

3kW: $3,500 – $5,000

5kW: $4,500 – $8,000

6.6kW: $5,000 – $9,000

10kW: $8,000 – $12,000

4. Will My Solar Panels Be Connected to The Power Grid?

If you want a grid-tie solar system, then it can be connected to the grid. In fact, a huge percentage of systems sold in Australia are connected to the electricity grid. In such systems, the electricity generated by the solar panels is used for your home’s energy requirements and the excess energy feeds into the grid. The homeowner can receive a credit payment called feed-in tariff for that excess electricity.

5. Can You Get a Solar System for Your Home If Your Roof Doesn’t Qualify?

One of the most interesting aspects of the residential solar system is the list of options available for homeowners. You don’t have to own a suitable roof to set up solar panels. Ground mount solar panels are also a very common way to access power from the sunlight without installing anything on your rooftop. Also, ground-mounted panel arrays are easier to install while bypassing any roofing hurdles.

6. How Long Does a Rooftop Solar System Take to Install?

Once you contact the best solar installers, they will do the necessary site visits and planning. The actual installation of the system will take a few days of work. The exact time depends on various factors like the size of the system, whether it is on-grid or off-grid, etc. But the overall time taken for the installation of a solar power system is very less and the process is fairly simple.

7. What Are the Solar Credits for Home Solar Systems? Who Qualifies?

The solar credits program is still in effect and provides a significant amount on installing on-grid solar systems. Homeowners, small businesses, and community groups are all eligible for solar panel subsidies by the Australian government. Solar credits are available for off-grid systems too.

8. Does Solar Make Sense If I Don’t Plan on Being in My Home For 25 Years?

A common concern of homeowners regarding solar is would it be a waste of money if they move to another place after installing solar. A typical solar panel system lasts about 25 years. So some of the homeowners fear that they will lose the money if they don’t plan on owning their house for at least 25 years. But luckily the solar panel costs can be returned in just a few years. Moreover, installing solar panels increases the value of the property. Most people are excited by the fact of owning a solar home that comes with the benefit of reduced utility cost.

9. What Percentage of Your Home Can Be Powered with Solar Electricity?

As the demand and prices of electricity have kept increasing, the world looks at renewable energy sources. The important question is what percentage of your home energy needs can be met by solar panels. The answer is 100 percent. You can produce the energy required to power your home completely from the off-grid solar systems. Off-grid systems mean your home will be disconnected from the grid and relying only on the electricity generated by the household solar and battery storage system.

10. When Will Your Residential Solar System Reach The “Break-Even Point”?

The break-even point or payback period of a residential solar system depending on the local energy costs, amount of sunshine in the region, and electricity usage pattern in the home. In short, for a low feed-in tariff, the more electricity used for the home energy requirements and not exported to the grid, the quicker the payback period.

Nowadays, the break-even point for many solar systems is just a few years after the installation. It is important that you should get reliable and high-quality equipment installed. The best solar panels, batteries, and inverters can let you earn from the system after the initial expenditure is paid off.

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