Expected Savings on Your Electricity Bills
If you’re researching solar energy systems in South Australia, you’re making a wise decision. With solar panels on your property, you can save money on your energy bills while also reducing your carbon footprint. Just in case this isn’t enough, you can even sell excess energy and recuperate the investment even sooner.
Naturally, there are still some questions about solar energy. For example, how much can you expect to save on your energy bills? If you only save two cents per month, it’s probably not worthwhile. Fortunately, this isn’t the case.
Ultimately, the amount you save on electricity bills all depends on your energy usage and the amount that you currently pay. With this in mind, it’s impossible to get an entirely accurate prediction in an online guide (you’ll need to speak to a residential solar installer in Adelaide for tailored advice).
This being said, experts suggest that you can reduce your electricity bills by up to 25% (depending on your circumstances). Let’s say that you average around 10kWh per day – if this is the case, a 3kW solar system will allow you to save between $800 and $1,200 in the first year. Alternatively, those with a 5kW system can save between $1,300 and $1,600.
From here, the savings increase based on your usage. For instance, those who use 20kWh per day will save up to $2,200 with a 5kW system in the first year. Thankfully, you’ll find various online calculators these days that enable you to input your details.
However, there’s another aspect to consider – feed-in tariffs. Not only do you save money on your electricity bill, but you can also sell the electricity that you don’t use back to the grid. Even though the amount has reduced since the early premium feed-in tariff, you can still sell units of energy back to the grid for profit. By doing this, you’re recuperating the investment even sooner rather than this energy going to waste.
Understanding Your Energy Bill
One aspect of solar energy that often confuses homeowners is the energy bill. With your traditional bill, you’ll notice that your lower usage is reflected in the amount that you pay. However, looking at a bill can cause frustration when you don’t know what everything means.
When the first bill comes through the door, it’s best to break it down into different sections. For example, one section will explain your energy usage. You’re likely to see your yearly usage as well as the average usage per day and average cost per day. Depending on your contract, you could also see the amount sent back to the grid and the amount you’ve earned from this tariff.
After breaking down your energy usage, you’ll see the amount that you owe and when you need to make payments. Once solar panels are installed onto your property, you don’t need to pay for the energy produced by the solar panels. Instead, you just need to pay for whatever else you have used beyond this amount. With battery storage technology only improving, you can store excess energy and use it later rather than relying on traditional electricity sources.
Based on your agreement, you could also have other information on your energy bills such as a solar loan or a government incentive. If you’re struggling to understand your energy bill after installing solar panels, break the bill down into sections. Also, take a proactive approach from one bill to the next so that you notice how things change over time!