With global rises in the cost of freight and materials in recent months we are constantly being asked the question, “is renewable energy really the best solution for my home?” If you ask anyone at Think Renewable the answer to that question will always be “YES!”
Australia is, after all, mostly desert. It is a country that boasts 7+ hours of daily sunshine on average year-round. And it is for this reason, that state and federal governments have offered home and business owners rebates and incentives to go solar since 2001. While these rebates and incentives are decreasing there really has never been a better time to go solar. As the Chinese proverb goes “the best time to plant a tree was 20 years ago. The second-best time is now!” At Think Renewable this is how we feel about switching to solar.
The recent price rises have stretched the return on investment of residential solar systems, but the average 6.6kW system will still pay for itself in 5 years and generate a profit for the homeowner over a 10-year period if the current energy bill is $100+ each month. On top of that the product technology is getting better and better, alongside longer warranties that protect homeowners.
Mid-range tier one panels such as Ulica, Longi and Trina now come with 15-year product warranties and performance warranties that maintain 80%+ efficiency over a 25-year period. High range tier one panels such as REC, QCells and LG all have 25-year product warranties and performance warranties that maintain 85%+ efficiency over a 25-30-year period. The list of inverters with full 10-year warranties is growing by the day, and with reliable brands like Sofar, Solis, SMA and Fronius the manufacturers are confident that the 10-year milestone can easily be surpassed if the unit is inside/undercover and well maintained.
The move to larger systems with 6.6-19.9kW array of panels (state and phase dependant) has allowed the early adopters the chance to cash in on energy providers feed-in tariffs. Homeowners are using more energy than ever before and are still able to collect credits from the energy they feed back into the grid. In states like Queensland and New South Wales this can mean a return on investment of less than 3 years in extreme cases, 10-year profits here will be up past the $10,000 mark for most tier one systems.
The financial benefits of residential solar are clear for all to see. When you add in the increase of electric vehicles in the coming years, the benefits to the planet of not using as many fossil fuels and solar manufacturers beginning the process of making their products fully recyclable there really has never been a better time to go solar. At Think Renewable we offer bespoke, custom designed solar projects with the target of getting your energy bills to $0. Our systems are built to last with minimum 10-year warranties on all products and the workmanship.