Solar savings: Aussies can save $1,000 a year by switching to a sun powered home
Australians could be saving on average one thousand dollars a year simply by making the switch to solar, a new survey by Brighte reveals.
By Nigel Freitas
29 August 2022
- Almost one in five (18%) Australians plan on installing solar panels in the next 12 months
- Cost continues to be a barrier for those looking to make the switch
- What to consider when installing solar
Australians could be saving on average one thousand dollars a year simply by making the switch to solar, a new survey conducted by sustainable homes financier Brighte reveals.
According to the ACCC the average household energy bill in 2020-21 was $1,434.
The Brighte survey of 2,013 respondents found that the average Australian with solar is saving $1,000 on their bill - equating to a 70% bill saving.
This was equivocated by clean energy advocacy group Solar Citizens, whose recent survey of more than 1,700 households revealed that 42% of people who had solar panels have saved 70% or more (or are in credit) on annual electricity costs, while 61% have saved 51% or more.
Energy prices increased in most Australian states and territories on July 1 this year, with some parts of Queensland seeing increases of 12.6%, and others areas in New South Wales seeing increases of up to 18%.
This spike in prices coupled with the ever-increasing cost of living could encourage more Australians to turn to solar to help manage their bills.
In fact, almost one in five (18%) Australians plan on installing solar panels, either with or without a battery in the coming 12 months.
Nigel Freitas, Head of Corporate Affairs at Brighte, said Australians wanting to save on their bills should consider solar.
“We’re currently seeing a surge in solar, with more Australian households looking for ways to reduce their bills and their impact on the planet.”
“As cost of living increases and energy bills continue to climb, solar can be a solution for those wanting to alleviate the pressure on their hip-pocket.”
Heidi Lee Douglas, National Director at Solar Citizens, said many Australians are already experiencing the benefits of solar.
“Australia is the sunny country and we’ve been able to capitalise on that abundant solar energy to slash electricity costs and lower emissions.”
“There are millions of Australian homes with rooftop solar across the country and these households know firsthand that solar energy straight from the rooftop is as cheap as electricity gets.”
According to the Clean Energy Regulator, over three million households in Australia currently have solar installed and benefit from the bill savings.
Despite the benefits that solar brings, upfront cost continues to be a barrier.
The Brighte survey shows that almost one in three (29%) Australians without solar have not yet installed it because they think it’s too expensive.
While the upfront cost of solar installation can be challenging - a standard system can cost more than $5K depending on variables such as brand, location and ease of installation - there are ways to reduce the burden.
Freitas urged Australians who are considering solar to check out low-cost payment options.
“The biggest barrier for solar uptake is the upfront cost but there are other alternatives to help you split this out into more affordable payments over time. The savings on your energy bill can also help offset the repayments.”
“Depending on what state you live in, there are also government rebates and subsidies that can help bring the upfront cost down.”
“Finance options like Brighte’s payment plan can make solar more achievable and help you start saving sooner.”
What to consider when installing solar
What size solar power system do I need?
When determining the right size system for your home you will need to consider your household electricity usage, where you live, the size and shape of your roof, and any council or electricity distributor requirements. Every household is unique, so it’s best to work with your local solar panel installer to find the right solution for you.
What government rebates are available?
There are government rebates and subsidies available in most jurisdictions, which will help offset the cost of installing solar. Do your research to determine what solar incentives you’re eligible for.
Am I getting the best deal?
Like with any big purchase it’s important to shop around to make sure you’re getting the best deal. We recommend getting at least three quotes to compare your options before you sign on the dotted line.
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The information above is general in nature and is not personal or financial advice. It does not take into account your objectives, financial situation or needs. You should seek your own advice before making any decisions.