Generating electricity from the sun at the location it will be consumed makes sense compared to generating from monolithic hydro dams or power stations and transporting energy up and down the country on poles and wires. That’s an expensive exercise that we all pay for. Falling battery storage costs and new smart home management technology now make the case for an independent energy system more compelling than ever before.
Energy freedom and independence from the electricity industry to save money
To cap power bills into the future
To lower their carbon footprint
Some really like the idea of generating their own electricity from a free resource
All of these reasons are valid and only you know the true value of your investment.
If you want to know more about the financial costs and the factors that influence the savings you can make, SEANZ has built a handy online tool to help you work through the specifics of your home or business demands. Check out the SEANZ Solar Optimiser here.
A SEANZ member can talk you through the key financial costs and benefits of installing a solar energy system.
Here are a few key points to consider:
1. Your location and sunshine hours can determine how much electricity you generate:
This solar generation is defined in kilowatt hours (kWh). Every kWh you generate and use is one less you have to buy from the grid.
The price paid for electricity from the grid varies from region to region. The more you pay (c/kWh or c/unit) the more you will save per kWh you produce, from solar.
2. The electricity produced by solar can be used in any of the following three ways:
Used by household appliances and heating water - this is called self-consumption. The more solar electricity you consume, the better your return
Sent to a battery bank or used to charge an Electric Vehicle (EV)
Sent or exported to the grid, where the solar electricity is purchased for a low price by some retailers. Exporting electricity should be kept to a minimum for the best financial outcome
ANY OR ALL OF THESE CAN BE APPLIED DEPENDING ON YOUR NEEDS
3. The size of the solar system (measured in kWp) you install should be determined by two factors:
4. Whether you are home or not, there are many ways you can maximise self-consumption of electricity you generate during the day:
These technologies are now commonplace, and as their costs continue to fall they may make sense for you.