Several responsible Australian homeowners are investing in solar panels. Despite the relatively high upfront cost, many of them are considering it as a long-term investment. Using solar energy not only helps you slash down on your overall energy bill but also allows you to conserve energy resources. However, the truth is that certain factors determine your savings with this arrangement. Here are the factors that affect the cost-effectiveness of your investment.
Size and Consumption
Often, homeowners looking for solar installations are clueless about the right size and kind of panels to install. At times, they are using more energy than their systems would produce. If you also consume more power than what your system produces, then it would not save energy sufficiently for emergency consumption. Hence, you might use some guidance to select the right-sized systems for your requirement.
The feed-in Tariff
This refers to the amount that your retailer of electricity would pay for any surplus power that your solar panels generate. Hence, you must choose the right sized models to generate more electricity than what you would usually need.
The Pattern of Usage
Even the best solar panels would produce electricity only if there is sufficient sunshine. It means that an average household produces sufficient power in the daytime. So those who need more electricity supply in the daytime would get more benefits than those who need a relatively high power supply after dusk. Nevertheless, you do get some feed-in tariff for all the excess power your system produces during the day.
Many places in Australia receive a higher amount of sunshine than the other places. And solar installers recommend their products specifically where the sunshine is more consistent than others. So if you live in Brisbane or Sydney, you can get more benefits from the investment than a resident of Hobart. Call your local services to understand if solar power is your go-to solution for your alternative energy needs.