Solar PV generated approximately 10 per cent of Australia's electricity in 2020-21, and is the fastest growing generation type in Australia. More than 30 per cent of Australian households now have rooftop solar PV, with a combined capacity exceeding 11 GW. So why so many homeowners choosing to go solar these days? Let’s take a look.
Solar energy is sustainable, renewable, and plentiful. As the cost of using solar to produce electricity goes down each year, many Australians are increasingly switching to solar. Australians continue to lead the world in uptake of rooftop solar, with over 3 million solar systems installed across Australia. Below are additional benefits of switching to solar electricity.
COST SAVING
Financial returns and lower monthly bills are major incentives for going solar. The exact savings you will see with solar depends on the following:
Electricity consumption
Solar energy system size
Whether you purchase or lease your system
Direct hours of daily sunlight
Size and angle of roof
Local electricity rates.
A solar electric system provides an opportunity fo
r anyone who is looking to reduce monthly utility bills and make a long-term, low-risk investment.
Increased Home Value
Solar panels are viewed as upgrades, like a renovated kitchen or a finished basement, so purchasing a solar energy system will likely increase your home’s value. Studies show that homeowners pay a premium for a solar home; Studies showed that on average, solar increased the value of a home by about $15,000. Although market factors like electricity rates and system size may impact the size of the premium, solar homes can sell for more than homes without PV.
Solar Works Everywhere
The solar resource in Australia is enormous, especially in Queensland. 1.5kW system is only producing just a touch over 1kW of power at its peak. This is not an error. The average PV system will export only around 75% of its rated power to the grid at its peak generation due to the variety of losses associated with the solar panel and inverter efficiency. Most states in Australia have good-to-excellent solar resource. Even places with relatively low solar resources, in the most southern areas of Australia can experience cost savings, and have similar solar resources to countries that have widely developed solar PV, like Germany.
Environmental
Each kilowatt-hour (kWh) of solar that is generated will substantially reduce greenhouse gas emissions like CO2, as well as other dangerous pollutants such as sulphur oxides, nitrogen oxides and particulate matter. Solar also reduces water consumption and withdrawal.
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