Скачать или смотреть How Much Money Can Solar Panels Save You? | Solar Run

Our team at Solar Run recently completed a 6.6kW solar panel installation in Melbourne. Our Solar Run customer Jamie was pleasantly surprised when he got his first electricity bill of just $2.02 for 3 months during summer with his solar panels switched on. He has saved $656 off his electricity bill since installing solar over 6 months ago. Jamie was kind enough to share his before and after electricity bills to show those looking to invest in solar panels how much they can save.

How does your solar system save you money?
Your home solar system saves you money through the savings in your electricity bill. Once these savings cover the initial cost of your investment, then your ‘payback period’ is complete and all of the money your system earns is a profit. On average, Australians complete their payback period for their solar system in 3 - 5 years. These savings come in two distinct ways.

The first is through ‘self-consumption’ - the use of the energy created by your solar panels. This is the most efficient and valuable way of utilising your solar system. For every kilowatt (kW) of solar energy that you use, it is a kW of energy that you are not purchasing from the grid through your energy provider. Energy providers charge a premium on electricity, meaning that you save the most by self-consuming the energy that you create.

The second form of savings comes through ‘feed-in Tariffs’ (FITs) - this is a levy paid by your energy provider for excess electricity that you send back to the grid. While you do get paid for this electricity, the value is far less than you are charged for taking electricity from the grid. While FITs can save you money, they are less valuable than the electricity that you self-consume.

How do you calculate your payback period?
You can calculate your payback period in three simple steps:

1. Calculate upfront costs
Add up the total cost of the system and installation and then subtract from that total any upfront financial incentives like rebates or subsidies.

2. Calculate annual savings
Add up the yearly financial savings from your system (this includes electricity bill savings, feed-in tariffs and any extra incentives).

3. Divide upfront costs by annual savings
The result is your payback period. It represents the number of years it will take for your savings to cover your initial investment.


For more information on solar installations, visit our Solar product reviews at:
https://www.solarrun.com.au/products/