Solar Power a Good Energy Alternative.
March 3rd 2011 12:24
Category: Equipment
Solar Panel
Solar Power is a great innovation therefore I support renewable energy especially if it saves me money.
Perhaps the technology for powering cars form Solar Power is getting better. Solar Power is really starting to increse as far as producing electricity for home use.
Solar Panels are becoming more efficient and cost effective. Australia enjoys the Sun and the Solar Power business is growing.
Countries like Australia , Africa, New Zealand parts of Asia the southern US where there an abundance of sunlight installing solar power would be a viable investment project especially for home use.
Many countries have their own way of providing investment funds in the way of rebates and electricity rebates and tariffs.
Currently the Australia federal government will offer the home owner a rebate on the purchase price of a Solar Power installation.
If we take the typical cost of a 1.5 Kilowatt solar power installation the cost is about $10000 with the government rebate of $3500 the customer pays around $4500. The installation consists of multiple solar panels mounted on the roof.
Ok so we shell out $3500 what is the return on the investment?
Most Australian states have a rebate power system whereby the user can direct excess power to the electricity company for which you are paid a unit price per kilowatt. The amount of money paid per unit differs from state to state.
Ok if we take on average unit price per kilowatt of 19 cents your electricity bill would be substantially lower on monthly basis by an average of $60 saving per month.
A typical 1.5 Kilowatt solar power installation will produce about 2100 kilowatts per year @ say 19 cents per kilowatt that would take off $400 off your power bill over one year.
On the initial outlay of $3500 over a 15 year period you total net electricity saving would be about $9100 with a net saving of$5250 and the installation capital investment would be paid off in just 7 years.
Each year the government rebates are decreasing. By 2015 there will be no further government rebates available to home owners.
Notwithstanding government rebates by the year 2015 the cost of a solar power will be much cheaper.
Currently some vendors in the Australian market are offering Solar Power installation for under $2000.
But there are conditions and it is very much buyer beware.
If you read the fine print the payment is say $2000 but you have to come up with the other $5000 when the installation is completed, then you need to apply for a government subsidy. It is best to shop around before investing in Solar Power.
For home users who do not want to be connected to the electrical power company grid there alternatives.
You can opt to have the power connected but you choose when to use it.
Have additional power generating system like wind generator.
In edition to having a Solar Power installation you will need to have a storage facility such as batteries to store the power for use at night.
Having a self sufficient power system has its advantages while being less reliant on fossil fuel it is not always practical. Although your overall carbon footprint would be lower and after the initial capital investment is paid off you would be finically better off in the long term.
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Comment by S.L.
The Political Brief
That being said, I'm looking into a solar unit for my home and maybe for my barns, but so far the cost is prohibitive. If the price comes down, I'll definitely be in the market for one.
Comment by CarlCan
Astroearth
Camera Sense
Solar power unit pricing will drop in the next 3 to 5 years.
Comment by S.L.
The Political Brief