How much money will I save with solar?
The long and short of it is that installing solar will save you money. You start saving money as soon as your system is turned on by reducing the amount of energy you buy from the grid.
How much you save depends on two key factors: the size of your solar system and your energy use.
To predict your savings, we model your home’s energy needs and accurately estimate how much electricity your solar panels will produce. This information is vital in gauging how much you can offset and, consequently, how much money you can save.
The more energy you use, the larger the potential savings. If you are a larger energy user then you have more potential to offset grid energy and save more.
The Importance of Self-Consumption
If you export a unit of solar energy you generally get paid less than what you are charged for importing grid energy. So, maximising self-consumption is key to increasing your savings. The more of your solar energy you can use in the home, the better your savings will be.
Yes, solar is only produced when the sun is shining, you’re not always home, and you probably use electricity after dark. So you likely won’t consume 100% of your solar (beware of some rouge solar installers who will calculate your savings based on you consuming 100%).
But, there are ways to improve your self-consumption and improve your savings.
To improve self-consumption you are basically trying to store energy somewhere else, rather than send it back to the grid. Luckily there are plenty of options/devices to do this, here they are in order of effectiveness:
- Hot water cylinder diverters
- Smart EV chargers
- Turning stuff on and off manually
How much do people usually save?
On average, people who install solar panels cut their power bills in half and in some cases eliminate their power bills completely.
Typically, our clients see a payback period of 6-9 years, which translates to around a 10-15% return on investment.
Use Our ROI Calculator
To get an idea of your payback period and yearly/lifetime savings, we provide an easy-to-use ROI calculator.
For a more accurate result, we provide a free proposal detailing your system design, estimated production and potential savings.
Ready to find out how much you can save? Fill out the form below and one of our team will get in touch with you.