Latest figures show Australians are installing larger home solar systems. Clean Energy Regulator data to October 2019 shows 6.5–7kW sized solar installations are up 18% compared to 2018.
The CER reports that short payback periods and high electricity prices are driving consumer demand for more solar power.
Overall, there’s been a 30% increase in solar installations compared with this time last year.
Meanwhile, large-scale, commercial solar power systems have far exceeded the federal 2020 Renewable Energy Target.
The accredited target amount of 6.4GW was reached in August, and accredited capacity now stands at 7.26GW.
Value of federal solar rebate remains steady
The spot price of small-scale technology certificates (STCs) has remained steady this past year at $37. This means households and businesses are still benefiting from the federally implemented Small-scale Renewable Energy Scheme.
In the scheme, a number of certificates are awarded to eligible households and businesses when they install solar panels.
The value of these STCs is then deducted from the cost of installation by the solar installer. This amounts to a solar power rebate on the cost of installation.
Short payback periods add to solar popularity
The CER report notes that state renewable energy schemes are helping to increase installations and capacity.
However, these rebates are not the only reasons for solar power’s popularity.
“Short payback periods, electricity prices, low interest rates and strong consumer demand are key drivers,” the report adds.
“Falling prices reduce upfront system costs and this encourages more homeowners and businesses to choose solar PV to help meet their energy needs.”
How many panels do you really need?
Despite the reported increase in 6.5–7kW solar systems, many households are going with slightly larger systems to maximise their savings:
With good feed-in tariffs available, many Solaray customers have effectively removed their power bill and in many cases are actually getting a credit each bill. To choose the right size solar system you must know how much power you use, and that’s not always easy.
The Clean Energy Council recommends contacting an Approved Solar Retailer like Solaray Energy to find out what size system’s best for you.
Solaray knows the industry, the technology available and the potential pitfalls for first-time solar owners. Get in touch through the form below and take the first step towards lower electricity bills and cleaner energy.