So we are looking at putting in a decent solar panel system.
The cost is approx. $5000.
Our bill at the moment is approx. $500 per quarter.
Some people who have it,say that it will take aprrox 3-4 years to recover the money and then we would in the positive.
Anyone here got the systems and feel the same way?
Solar Panels-Is It Worth It Now?
grabngo on 10/02/2015 - 12:02
Last edited 10/02/2015 - 12:02
Last edited 10/02/2015 - 12:02
Comments
Payback calculation is relative to the scheme you're in.
At 6.4c feed-in tariff offered by most retailers, the payback will need to be based on electricity saved DURING the production hour.
Under this definition, if you have someone at home (eg: working from home, stay-at-home spouse), that saving would be much more than if you actually have nobody at home. Example: If you're not at home, you will get 6.4c per kwh but if you're at home, in lieu of importing power which now costs somewhere between 25c to 34c like mine, then 25c to 34c would be your saving.
Then it also depends on which season too.
Roughly speaking at $5k, taking into account seasonality, I would say 4-5 years for stay-at-home scenario to 8-10 years for 6.4c scenario (working away).
You will also need to remember some retailer will move you to Peak/OffPeak (GH/GR) rate which is currently penalizing solar panel owners by up to 100%. In my case, my supply charge went up from 75c to 145c per day.
That will stretch the years even longer.
Cheers
Zz
For a start it depends on what state you are in and what benefits they are providing. The FIT offered by your local suppliers also has an impact on the viability.
Take the time to do your sums. Also allow for reduced performance from the panels as they deteriorate with age. With the current benefits / schemes there can be no benefit or even a substantial loss for some.
If your daylight consumption is high or you can reschedule consumption (washing machine / dryer/ etc) somewhat to be during that time then you would increase your benefit.We have one and by the time it will need replacing I am expecting to make a loss on the whole idea.
Backing up what xywolap has suggested, view your meter reading in the morning before leaving work, and when you get home for a period of a few weeks to try and calculate average daytime kWh usage. You will want a system of at least that size.
Factor in changes in habits (we put washing machine, A/C, dish washer, etc on during the day now to take advantage of "free" power), and that would be a more ideal size to fit.
You want to cover your day time usage, and as you will rarely achieve full system power, and conversion, you can put in a system slightly higher potential that your inverter to trim costs slightly, and won't really lose out.
If you have the option of north and west facing panels in large enough groups, you will extend the power you are generating (and hence free to the house to use), without having a single fully powered system for too long during the day.
So I got a call from another company just now who says that they can do the job for $10k.
Not sure who to trust anymore.I thought for $5k should already be installed price.
OP, if the FIT is circa 25-26c like AGL gave me (and this is recently), then the payback calculation will be different again (and a lot simpler).
For $5k assuming 4.5Kwh system, this would take 3-4 years payback based on 5200 EXPORTED Kwh per annum (5,200Kwh x 25c x 4 years) = $5,200
In other words, do your research big time and check out with retailers of how much they're willing to pay for your FIT.
Regards
Zz
How did you get 25c…. AGL offer 8c I believe.
Ah… I live in Victoria.
Distribution network: SP Ausnet.
I must admit, I was surprised when they offered me that. Recently I got a bill affirming that 25c rate and effective 1 January 2015, it increased to 26c.
But of course, my usage rates also increased more than 15% for Peak and 10% for off peak with Supply now nearing 145c per day
What state is that 25c FIT in?
We only get a miserable 8c from AGL in NSW.
I came across something interesting while considering solar power about a year ago. Current panels have just an efficiency of around 30%. This means that alot more panels are required in order to generate electricity which basically translates to a high investment cost and more roof space used.
http://en.wikipedia.org/wiki/Solar_cell_efficiency#mediaviewer/File:PVeff(rev141218).jpg
The efficiency factor is slowly improving with small break throughs such as mentioned in the link below. As such, I find it's probably better to hold off investing in it for now.
http://news.yahoo.com/australian-scientists-announce-solar-e…
Most spec say 17-18%. When you say a lot more panels are needed, a lot more than what? Most panels have very similar efficiency currently.
It's like saying a car engine is only 20% efficient, so you need a bigger one!
Check out the wikipedia link in my post (you have to manually copy and paste, somehow the hyperlink isn't working).
It is not true that most panels have similar efficiency because there are different types of panels (multijunction, crystalline, thin film etc) and varying brand efficiency. 2 panels with 20% efficiency would be generating the same electricity as 1 panel with 40% efficiency.
When calculating your benefit don't forget to allow for the ongoing loss of panel efficiency and the eventual cost to replace the panels. Check around for more details on what productive life you can expect from a panel.
they will be producing ~80% of the original average daily KWH in the 25th year of installation. can expect a long long life if dropping 20% per 25 years
Factor in replacing the Inverter twice in that time though.
correct this is a definite maintenance cost during the life of the system.
I work for a commercial solar leasing company where we hire purchase the system over a 5 year agreement with quarterly rental payments that are less than the guaranteed savings off electricity bills. this means zero outlay upfront and gives the business a net saving from day one. very different for residential though because if you don't use the power you are getting a lowsy rate for any excess in NSW.
Until reliable and large capacity storage batteries are paired with solar, the investment is generally not worth it.
See what Elon Musk comes up with
http://zayzay.com/news/elon-musk-tesla-new-battery-home-powe…
Battery storage will let you play a financial game with Time-of-Use meters. Not sure if you can legally store off-peak metered power.
I shopped around, and had my solar installed almost a year ago through SolaRay, and the bill was $5k for 3.5Kw system with a 3Kw inverted, on a north facing roof.
Your final solution needs to take into account the orientation of any face(s) which will house the panels, the amount of shading you have on those face(s).
I suggest getting started by reading the relevant Whirlpool forums and ask the devotees there as many questions as possible to understand any system you might order and the pros and cons of said system.