Do Solar Panels Save Money?

Over the past few years, the solar industry is blooming at a fast rate as more and more people all around the world are switching to solar power systems. The reason behind this is that the solar panels help us to save money while helping the environment by reducing the effects of carbon dioxide and other harmful greenhouse gases. The benefit of saving money that solar panels offer is what attracts the majority of customers to solar power systems. 

A common question that the majority of homeowners and business owners ask the solar installers and experts is how and where do solar panels save money. Therefore, in this guide, how and where solar panels save money after installation. has been discussed. 

There are three major ways of how and where solar panels save money and these are:

  • Reduction on Electricity Bills

One of the top advantages of a solar power system is that it saves a huge amount of money on electricity bills each month. Solar panels produce electricity by absorbing energy from the sunlight that hits the panels. The solar cells present in the panels generate electricity from this absorbed energy, which is then passed through a solar inverter where it is converted from DC electricity to AC electricity. This solar electricity is then used to power appliances in the household or in the businesses. 

The amount of solar electricity generated meets a significant portion of the electricity requirement of the property. This makes the household less dependent on the amount of electricity that the property imports from the mains electricity grid. Energy imported from the mains electricity grid is available at a high price due to the fact that it is mainly generated using non-renewable sources of energy. The use of solar electricity significantly reduces the cost of electricity bills and allows the homeowners to save a generous amount of money each month for as long as the solar panels last. 

  • Low Maintenance

When it comes to electrical components or any other machinery or system, maintenance is a major issue and required regularly to make sure that the system or equipment works efficiently and lasts for a longer period of time. The downside of regular maintenance is that it requires a significant amount of money on a regular basis. 

One of the best features of a solar power system is that it requires minimum maintenance as it does not come with any sort of moving parts or not. When it comes to solar panels, you will have to make sure that the solar panels are cleaned at least once or twice a year. In addition to that, you will have to make sure that you get the solar panels checked by professionals once a year for loose wiring. 

In cases of solar panel cleaning, you can either clean the panels by yourself or get professionals do the job for you. The majority of homeowners prefer cleaning their solar panels by themselves with the help of a small amount of dish soap, water, and a non-abrasive sponge. This low maintenance means that the solar panels help you to save a decent amount of money and also saves you from the hassle of a regular maintenance schedule. 

  • Solar Rebates and Incentives

Solar rebates are an outstanding way of saving money by reducing the upfront cost of installing solar panels in Australia. In order to significantly improve the sales of solar power systems and encourage more and more Australians to switch to solar energy, the state, local, and federal governments of Australia introduced a solar rebate and incentive program. 

All the models of solar panels and solar components available and sold in the Australian solar market are included in this program. When the homeowners and business owners finalise a quote to install solar in their homes, the solar installers apply for a rebate and install the system once the rebate is approved. This allows the homeowners to save quite a few hundred dollars on solar power systems. 

  • Net Metering

In Australia, most of the properties with solar power systems are connected to the mains electricity grid. The reason why we keep the households connected to the grid is because the solar panels cannot always generate enough electricity to meet the energy requirement of the house. Not only that, but staying connected to the mains electricity grid allows you to power the household at night when the solar panels do not generate electricity. 

Solar panels often generate an excess amount of solar electricity due to bright, long days of sunshine. If you do not have a solar battery installed, then the excess amount of solar electricity gets exported to the mains electricity grid. This exporting of solar electricity from the system to the grid is known as net metering. For each kilowatt of energy exported, a certain amount of credit is added to the electricity bill of the homeowners depending on the demand and supply of the grid along with the region or area in which you live. This helps to reduce the cost of electricity bills by a good amount, allowing homeowners to save money. 

Final Words

The solar industry is evolving with each passing day as more and more technology and models are being introduced and developed in the industry. Australia is known to be one of the largest solar markets in the world and is expanding each year as more and more manufacturers are entering the market and the industry. Solar panels are an outstanding idea if you are in search of ways that would help you to save money and will also help you to save the environment, building a better life for the future. The four ways mentioned above are ways in which solar panels help us to save money. We hope that this guide will significantly help you to make the decision of switching to solar energy.

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If you’re considering solar for your property or just looking to maximise the savings for your solar system, download our ‘Solar Power Buyer’s Guide’. In this 100% FREE Guide, you will have access to expert knowledge as well as resources and tools that shall essentially assist you with the transition to solar power.

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