Solar Savings Australia: How to Make the Most of Going Solar

With interest rates and the increasing cost of living, many of us are looking for ways to save money and invest wisely. One option that could help with both is going solar. Not only is solar energy better for the environment, but it can also save you money in the long run. Here’s a simple guide to help you figure out how much you could save by switching to solar power in Australia.

Does Solar Save You Money?

1. Understand Your Current Energy Use

Start by taking a closer look at your energy bill. To calculate potential savings, you first need to know how much electricity you currently use. Look at how many kilowatt-hours (kWh) of electricity you use each month.

For example: If your bill shows that you use an average of 23.71 kWh of electricity per day, your monthly average would be around 721.2 kWh (calculated as 23.71 kWh per day x 365 days in a year / 12 months).

Knowing your monthly energy usage will give you a better idea of how much power your solar system will need to generate to meet your needs.

2. Estimate Your Future Energy Use

Once you know your current energy usage, think about how it might change in the future. Consider factors like the size of your home, the number of people living there, and how you use energy. Will any of these factors change over time? Your future energy use could increase or decrease depending on your situation.

3. Figure Out the Solar System Size You Need

After estimating your future energy use, you can determine the size of the solar system you’ll need. This will depend on things like your home’s location, the climate, and the direction your roof faces. Companies like Lux Solar can help you assess these factors and recommend the right system size for your needs.

4. Calculate the Cost of Your Solar System

Now that you have a sense of the system size you need, you can start figuring out the cost. The price will depend on the system size and installation costs. For a more accurate estimate, it’s a good idea to talk to a solar specialist. They can help design the right system for you and give you a better idea of the cost.

5. Work Out Your Solar Savings

With the cost of your solar system and your estimated future energy use in hand, you can calculate your potential savings. Don’t forget to include the current cost of electricity in your area (found on your bill) and any government incentives or rebates you might qualify for. You can check out energy.gov.au/rebates for the latest on available incentives.

To figure out your net savings, subtract the cost of your solar system from the total amount you would have spent on electricity over the system’s lifespan.

For example: If you live on the Gold Coast and your monthly electricity bill averages $225, you’d spend around $40,500 on electricity over the next 15 years.

Now, let’s say you buy a 6kW solar system for $7,000 (after rebates). This system is expected to cover 100% of your energy needs.

$40,500 – $7,000 = $33,500

So, your net savings over 15 years would be $33,500!

Keep in mind that this is a simplified example. Your actual savings will vary depending on your specific situation. It’s a good idea to consult a solar specialist to get a more accurate picture of what you could save.

Final Thoughts on Solar Savings in Australia

By following these steps, you can get a solid estimate of the potential savings from going solar. Remember, the actual savings will depend on various factors we’ve discussed. Do your research, find a trusted supplier like Lux Solar, and choose a solar system that’s designed to give you the best return on your investment!