Yes, the upfront costs of solar may seem expensive however, you may actually benefit from it financially. Ignoring the environmental benefits of solar, many home-owners would also be concerned with the financial feasibility of owning a solar power system, the two main ways you can benefit financially are offsetting your energy consumption and using your feed-in tariff for excess energy.
Offsetting your energy consumption
Solar reduces the amount of electricity you need to buy from your electricity retailer, solar systems typically use solar power first before resorting to energy from the grid, with a large enough system you can even eradicate your power bill entirely.
Feed in tariff for excess energy
When you solar system generates more power than what you consume, the excess energy can be sold back to the grid for a rate called a ‘feed in tariff’, this is dictated by your electricity retailer.
Payback periods for Solar
Determining your payback period is crucial for knowing if it is financially feasible to install solar, you might be moving in a few years and the upfront cost may not justify getting a system. Use our solar calculator and enter your specifications to determine payback period.
Solar power has rapidly reduced in cost over the years and is now officially the cheapest form of energy as of 2020. In conclusion, there are benefits financially to installing solar and your investment would likely pay for itself, after that you would be enjoying free energy and even an income stream from energy sold back to the grid, making it a very worthwhile investment.
Additionally, you would be doing a big service to the earth, reducing your carbon emissions and thus improving the environment.
Natural Technology Systems are solar providers that have been in business for over 30 years, we are a business that South Australia trusts and provide expert, obligation free quotes and advice. We provide customers with the most cost-effective way to slash those power bills for your home or business.