The cost of solar panel systems depends on the:
- type of solar panel and components you choose
- amount of solar panels and size of the solar system
- electrical or other work needed
- ease of installment.
As a guide, the cost can vary from $4,500 to $13,000, but can be higher depending on components or installment. Compare quotes from multiple installers to find the best offer for you.
Household solar systems usually take between 5 and 10 years to pay for themselves. It depends on the cost and size of the system, where you live and how much electricity you use during the day. A 3 kilowatt solar system could save you up to $600 a year on your electricity bills. The longer you stay in your house, the more you’ll save.
Your installer will estimate your payback period.
Home solar also involves other potential costs:
Australia is moving to a system called two-way pricing for households with rooftop solar. Your network will charge your retailer a small fee for exporting extra solar energy to the grid if you exceed a certain level during the middle of the day. However, there will be financial rewards for exporting energy during peak times. The energy retailer may pass these costs and credits on to you. The exact credits and charges will depend on your location and energy retailer. Compare retailers to find the best option.
Keeping your solar panels clean is the best way to get the most benefit out of them. Rain will more than likely keep them clean. If you can’t clean the solar panels safely from the ground or you think they need a more thorough clean, contact a company who specialises in servicing solar panels.
Regularly check your system to ensure it’s operating and get the system checked every few years to make sure it’s in good working order.
Check with your home insurance company if they cover the solar system and its installation works as part of your home insurance.
Home solar system rebates
Small-scale Renewable Energy Scheme
The Federal Government’s Small-scale Renewable Energy Scheme provides subsidies for households that install or upgrade to eligible solar systems using an accredited installer.
Most home solar systems are entitled to this subsidy, which is based around tradable certificates called small-scale technology certificates (STCs). You receive a certain number of STCs for your eligible instillation, calculated on how much energy you will produce until 2030.
Your installer will normally apply for the STCs and sell them on your behalf. They then apply this as a discount to your installation. This discount should be included in your quote, but if you can’t see it ask your installer.
To save money through this scheme make sure you use an accredited installer who will install an eligible solar system.