Am I wrong or is this article 3 years old?
its still costing me 30k AUD to put in a decent solar and battery system, i mean prices have come down but they are still well beyond what is affordable by the avg person.
and battery system
That’s the catch. The generation isn’t the expensive part. The storage is.
That’s the thing, without the Battery it’s not cost effective, we’ll pay more for the system then it would recover. Our peak usage is at night when the sun is not there.
wouldn’t most people’s peak usage be in the afternoon when the air conditioner is running?
I paid $5k recently without the battery - it’s not just affordable, it’s cheaper than drawing power from the grid. Pay off on the upfront investment will be about 7 years and it has an expected life of 30+ years (we paid extra for long lasting panels).
Battery prices will come down - in the mean time it’s still better to just get that power from the grid.
I’m curious what sized system you are putting in that costs that much.
An 8kw solar system usually costs a bit over $8k and at least in many areas seems to have a ROI of a bit over 6 years at most and often much less.
Sweet! Those panels I paid so dearly for are worth next to nothing!
Coming from someone who owns them-
Nah, it’s not worth it… at least, if you strictly look at “saving money” overall.
ROI is on average 10-25 years, depending on your current cost of energy. The components/inverters/etc, are usually rated for 20-25 years.
At least- this applies if you have a properly licensed contractor install everything. If you do everything yourself, its extremely worth it, and would achieve ROI in a decade or less.
What part wasn’t worth it? You said it’s not worth it, then made it sound worth it.
The ROI is 10-25 years based on the electricity prices you locked in at the start.
With regular inflation, and general increases in the electricity rates, over the long run you’re going to save money. The return might not be investment market level returns, but if you can justify the up front costs it’s unlikely to not come out ahead.
It’s worth noting that grid scale tends towards far better ROIs of 7 to 10 years. Home systems are a lot more expensive seeing as about half the cost of them tends to be in labor and markup as compared to the economies of scale larger projects. Still often worth it, but significantly more than a properly managed power company in a favorable regulatory environment can do.
From our perspective it’s been worth the investment. We did a new water heater while the electrician was wiring everything up, and that’s saved us an additional grand (at least) every year not using heating oil. Last time we talked energy prices with the neighbors they were averaging over $500 per month, but we generate enough to bank credits to last us through the winter at the hookup fees.
Granted, our winter heat is primarily the wood stove and a low consumption floor fan to circulate the air and not space heaters, but our overall ROI is below 10 years given heating and electricity costs in our area.
those parts (panels, inverter) are easy to replace since all the installation has been made, and they will be cheaper than they were when you bought them. Im my case panels + inverter were about 40% of the total cost. I imagine a similar powered panel will be way cheaper in 20 years
fun fact: it’s not! like so much not, that the first planned small nuclear reactor plan in the US has been canceled
Ok, but hear me out, we can make atoms go boooooom so what about that???
