Are Solar Panels Worth the Investment in Melbourne?

Electrician Melbourne

There are many contributing factors to consider when you are weighing up if solar panels are worth the investment for your Melbourne home. Factors include your choice of solar power products and installer, your lifestyle and your long-term plans for your home. Our domestic solar installation experts at Erg Energy have outlined some considerations in this article, but firstly, it is important to highlight the benefits of solar panel installation in Melbourne.

  • Solar energy is a renewable energy source, using power generated by sunlight, meaning it cannot run out.
  • Installing and using solar panels reduces your electricity bills. The average Melbourne household can save between $200- $400 per quarter on reduced energy bills, depending on your products and installation.
  • The Victorian Government is providing Vic Solar Energy rebates for new installations. Click here (link to rebate page) to see if you are eligible for a rebate.
  • Solar energy is much healthier for the environment. Solar plays its part in saving our planet, as it doesn’t create greenhouse gas emissions from burning fossil fuels to create power.
  • Solar power requires minimal maintenance with little wear and tear on moving parts.

With so many benefits, it is clear why solar energy is becoming increasingly popular across Melbourne and the Mornington Peninsula. Although there are a range of advantages, the initial outlay of a solar system can be a large expense, so it is important to discuss whether the initial outlay is worth the investment. Below are some key factors to help you determine if solar power is right for you, and how to ensure you make the most of your investment.   

Solar System Installation

INSTALLER – HOW CAN YOUR CHOICE OF A TOP SOLAR PROFESSIONAL IMPACT YOUR INVESTMENT?

An important element in whether solar is a solid investment for your Melbourne home, is your selection of installer. Your solar power installer is crucial in providing professional advice around rebates you qualify for, correctly sizing the products to ensure your system is right for your individual requirements, advising on correct installation such as the positioning, shade, and angle of your roof. A professional solar installer will often assess your property first so they can recommend an appropriate residential solar package that is tailored to your needs specifically.

The best solar power installers also provide high-quality products that are durable and reliable. There are a range of cheap, imported solar products in the market which may seem good value for money initially, but often they won’t perform like the high-quality products that cost a little more upfront. Cheaper products like these provide a much lower rate of energy saving over time, meaning it would not be worth the investment. Your solar installer should have the experience to determine high-performance products from the cheaper solutions and assist you with product selection.

It is also important to ensure your solar installer is registered, qualified and insured, or you risk sub-par warranties and safety issues, which again can impact your investment.

Choosing a reputable solar professional can save you thousands of dollars in the long run, so it is vital to consider who you choose to work with. Be sure to check reviews online, and ask for case studies where possible to show actual experience and savings for existing customers.

PRODUCT SELECTION – WHAT DO I NEED TO MAKE IT WORTH IT?

The best way to ensure that your solar system is a good investment for your Melbourne property is to install a solar battery with your solar system. A solar battery allows you to store the energy that you generate from your solar panels for use at a later time such as the evenings. Solar battery storage even allows you to sell excess power back to the grid.

The solar batteries we supply at Erg Energy include leading brand names such as LG (link to supplier page) and Tesla (link to supplier page). These are each equipped with leading-edge technology which allows you to closely monitor the amount of energy you have generated at any time. If you are interested in investing in a solar battery to compliment your solar power system, be sure to speak to a trusted solar expert about your specific requirements, in order to select the correct size. If you need help finding the right information you should search for a Tesla Certified Installer like Erg Energy.

PLANS FOR YOUR HOME

Before you decide on your solar energy system, you should consider your intentions for your property. Melbourne homes with solar panels installed on the roof are a great selling point for potential buyers. If you are thinking of selling in the short term and would like to add value to your home, having the ability to generate your own power by installing a solar system can become a huge advantage. Not only do we have some of the most expensive electricity prices in the world, but electricity prices are continuing to increase in Victoria. Modern day potential home buyers are now a lot more interested in generating their own power instead of purchasing it from the grid in order to save money and resources.

If you are not selling your property in the near future, you can still take advantage of installing solar systems, as you will easily be able to measure your savings and payback period. For example, for a 5kW solar system, you are likely to cover your initial outlay of costs within 5 years, depending on the product and the angle of your roof. This means if you intend to stay at your property for longer than 5 years, you will have paid back the initial cost of the system purely in the amount you are saving on your power bills. After the 5 years, everything you save on your electricity bills is profit for you.

If you would like to learn more about your investment in a solar installation in Melbourne, contact our team of residential solar experts today to discuss your specific requirements. Looking for Melbourne commercial solar information for your business? Contact us now to find out how we can help you meet your energy targets today on 1300 ERG SUN.