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Save with Solar Panels Jan31

How Much Can You Save with Solar Panels?

Nowadays, making smart decisions is not even a choice; it is a necessity to live a good life. Saving money, thinking about the environment, and choosing a wise, demanding career are also included in the list. At times, you might get confused about how you will make the right choices. But we are here to help you. There is one thing you can choose and get two outcomes from that. Yes, it is possible! If you choose to install solar panels, you can save on your power bill and can contribute to a good cause towards the environment too. If you choose to install solar panels, you can save on your power bill and can contribute to a good cause towards the environment too.If you choose to install solar panels, you can save on your power bill and can contribute to a good cause towards the environment too. Perfect, right? Well, let’s read how solar panel installation helps in saving.

Solar panels harness the sun’s power and generate electricity. With that, it also serves a good environmental cause.

Let’s delve deeper and read more about how much you can save with solar panels.

  • It reduces your electricity bills

It has been noted that solar panels generate energy that makes you independent about electricity. As per the reports, a 5kW solar system can generate around 20 to 25 kWh of electricity per day. This makes it pretty much clear that once you install solar panels, you no longer rely on your energy provider. So, you’re saving money at the end.

With a 5kW solar installation, you can save up to $1,500 to $2,500 annually. If you’re someone who falls into the category of high-energy users, then you may save up to 70% of power bill factors that affect your savings.

  • Feed-in Tariffs: Get paid for your excessive energy

Feed-in tariff is another way of earning money by solar panels installation. Though it might not be as big an amount as you save from power bills, but still does contribute a bit. Feed-in tariffs work as if you generate excessive energy, you can send it back to the grid or to a particular energy provider, and they pay you for the excessive energy you have sent across. It might not be much, but it does count in the end, right??

  • Government rebates and incentives

The government is also encouraging everyone to choose solar panels and energy-efficient products. To make Australia environmentally friendly, the government has started rebate programs. One of the rebate programs is the Small Scale Renewable Energy Scheme. This scheme offers rebates when you install solar panels. With that, it reduces the upfront cost of installing solar panels by up to $3,000 or more. The variation might depend on the size of your solar system.

  • Returns on solar panel

It is reported that solar panels can pay back in 4 to 7 years. If you do the practical counting, then anyway you’re on the saving side. Solar panels lifespan is about 20-25 years. It means you are investing money that offers returns for almost 25 years. Another best thing is you don’t have to spend much on investment, as you can clean solar panels by yourself. With all these, a household may save around $20,000 annually. Well, one can imagine these numbers and how they will change your financial expenditure.

Conclusion

By installing solar panels, you can save huge on your savings and utilise that money for something else. Installing solar panels might cause confusion about which one is best. We’ve written an article that helps you solve confusion regarding single solar panels and double solar panels. You can click on the link and read which one is best suited for you. And if you are still confused, contact Sunburn Solar, and we will help you with everything.

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