A new Victorian housing development is including solar panels and home batteries as standard.
Mirvac is building 7,000 homes at Woodlea, some 40km north-west of Melbourne.
Backed by the Clean Energy Finance Corporation (CEFC), the houses include 5.1kW solar systems and a 10kWh battery. The systems are expected to save an average 80% on a household’s annual electricity bills.
The development is being built by Mirvac and Victoria Investments and Properties.
The financial benefits of solar power
A Domain report from 2018 suggests investment property owners cannot afford to ignore solar power either. As incentives, the report lists the normalisation of solar — tenants will soon expect it — and its tax deductible status.
The report stated that a majority of tenants are willing to pay more for solar-equipped properties for lower power bills.
Two-thirds of renters would pay at least $5 more weekly for a solar-equipped property; 55% would pay at least $10.
Trend towards solar homes
According to a December 2018 Solar Trends report by the Australian PV Institute and the University of NSW, Australia has the highest uptake of residential rooftop PV in the developed world.
Premium feed in tariffs and a solar panel price drop created a solar boom starting around 2010, the report states.
The time taken to pay off a rooftop solar system is estimated at 4–7 years.
“The best paybacks are for the 4–5kW size range, and also for systems >5kW. The most popular system sizes being installed by households are also in the 4–5–6.5kW range, which shows that solar consumers are making smart choices for their wallets as well as the climate.”
Solar panels cheaper than ever
Solar panels are now the cheapest they have ever been, and government rebates are available.
A quality 5kW solar system starts from around $5,500 fully installed, generating around 20 kWh daily, averaged over a year. According to Canstar, that’s the amount of electricity a five-person household uses in a day.
If you want to get lower electricity bills and use cleaner energy, contact Solaray Energy. We can advise you on the right sized solar system for your home or business.