Is installing solar panels worth it in NSW?
NSW ranks among the most expensive states for electricity, with consumers paying an average of 37c/kWh, and prices are expected to rise further. In contrast, solar power systems can generate energy at only 5-6 cents per kWh. This significant difference in cost is driving more and more households in NSW to install solar panels, allowing them to save money on their electricity bills
How much power does solar panels produce in NSW?
NSW has a significant solar power generation capacity. The amount of power produced by solar panels in NSW varies depending on factors such as weather conditions, time of year, and the total installed solar capacity.
According to energy.gov.au, on average, 1 kW of solar panels in NSW generates approximately 4 kWh of electricity per day, averaged over a year. This output tends to be higher in summer and lower in winter.
How much do solar panels cost in NSW?
The cost of solar panels in NSW depends on your system size, which will be determined by different factors such as your current energy bill and usage, as well as your roof size and budget.
As a guide, a fully installed 5kW solar system in NSW costs from $5,000 to $8,000 and can save homeowners $1,800 a year.
Meanwhile, a 10kW solar system in NSW costs from $7,000 to $13,000 with annual savings estimated at $3,000.
Who has the best solar feed-in tariff in NSW?
The solar feed-in tariff in NSW varies by provider and specific plans. It typically ranges from 12 c/kWh to 22 c/kWh.
What does this mean for you? Suppose you have installed a 10kW system and a 16 c/kWh feed-in tariff.
Assuming 50% of your power is used in the home, and your cost of power is 30 cents per kWh – you will save 30 cents x 20 kWh a day. Over the course of a year, that’s 7,300 kWh for a $2190 reduction on your power bill. Importantly, you won’t see this on your bill, it will just be $2190 less than it would have been without solar.
The other 50% of the 40kWh produced by your solar system gets sent to the grid because you didn’t use it. Based on that juicy feed-in tariff of 16 cents, you get a $1168 credit on your power bill per year.
What solar rebates are available in NSW?
Small-scale Technology Certificates (STCs) are a federal government incentive in which homeowners receive certificates for the solar energy their system will generate over a set period. These certificates can then be sold to help offset the upfront cost of installing solar panels. To find out if you qualify for this incentive, please contact our team.
