Making a bright investment

With worries of climate change and electricity prices expected to continue to skyrocket, making the switch to solar has never seemed like a better idea.

But with any investment, and solar is no exception, there is always some hesitation usually caused by the ‘unknown’. So, here are some facts and figures about solar that will put your concerns at ease.

Solar is considered by many as the best form of renewable energy because it cannot be depleted, there is an infinite supply and it has the power to end our reliance on coal, oil, tree farming and damming rivers.  By simply installing a quality solar PV system on your home, you can potentially offset thousands of carbon emissions every year – and have piece of mind that you are doing your bit for the environment.

In terms of direct benefits to you, the potential investor, there are a number of reasons why ‘going solar’ is a smart move. Solar is extremely cost effective because not only will it dramatically reduce or completely eliminate your power bill but it will also add value to your home. Once you have outlaid the initial cost of the system, you can sit back and relax while your solar system, essentially, makes you money.

Your return on investment is dependant on a number of variables including the price of electricity, where you live, your electricity supplier, the system size you install and most importantly, the amount of electricity you use, particularly during the day when feed-in tariff rates are the highest.

Hypothetically, if you install a 1.5kW Auzion solar PV system on a home in Queensland that uses 10% electricity during the day and pays, on average, $300 on electricity every quarter to their AGL electricity supplier, they can expect the following results:

•    Reduction in their electricity bill to $71.29/quarter
•    Will pay-off their system in 3.2 years
•    Receive a 30% return over the lifetime of the system

The truth is, there is no ‘catch’ when it comes to solar. If you do your research and invest in a quality product, it really is as good an investment as it seems.