Solar power is derived naturally from the sun. This means the actual cost of your energy is $0. The only time you will need to purchase solar energy is when your solar panels do not generate enough energy to power your home. This is when you purchase from the “grid” at a very low price, and in the same way, you can sell your energy to the grid when you overproduce solar power. As you sell excess energy for less than the amount you purchase energy off the grid for ($.10 versus $.36), it’s recommended that you install a solar power battery to store your excess energy. This will save you more money over time.
The main cost to use solar energy is actually in the initial upfront purchase price of your solar power installation, which includes your solar panels, solar power inverter and solar power battery. While this will vary depending on the size of your home, number of solar panels required, and the type of products you choose, it does pay itself off over time with the huge savings in power. Fortunately, there are payment options available which means you don’t necessarily have to pay the entire amount upfront.
Despite the installation prices, solar panels are definitely worth it in NZ due to the yearly savings. Here, let’s take a look at NZ costs. In New Zealand, the cost of purchasing a solar power system has decreased and with the rising price of standard power, well, the result is that the solar system pays itself off over a short period of time. Only 7-9 years generally, to be exact. The solar power system cost for a lower power user is generally under $7000. While a higher power user can expect to pay more than $10,000. This means over the lifetime of your solar power system, you can save up to tens of thousands of dollars.
Of course, there are many different factors which will determine your personal savings. Whether you’re a high power user, sunlight hours, how much solar power you need to purchase off the grid, and how long you choose to stay in your current home. Solar power systems have a lifetime of 25 years, so the savings can be calculated over this period of time. The majority of people don’t stay in one home for this length of time, but fortunately, your solar power system will directly increase the value of your home when it comes to selling.
Future Energy can consult with you and advise you on the best solar power system which will give you the optimal savings long term. Speak to our experts today here!
