Renewable Energy – We all hear this term frequently and it has been a part of discussions almost everywhere. The non-renewable energy sources, the consequences of depending on fossil fuels and the wonders of switching to renewable energy sources have all received commentary from scientists, governments, and probably even your next-door neighbor.
We are quite convinced with the fact that renewable energy sources are the best for both our earth and long term monetary benefits. Scientists across the globe are warning us of major climate change effects and we have witnessed it all. However, the question that still sticks our minds is what effects will the switch to renewable energy have on our future?
Let’s begin with Savings and Reducing Costs
Major concern while opting for renewable energy is usually the cost of acquiring it and the Return on Investment associated with it. Solar energy is today among the most prominent and affordable sort of renewable energy. A lot of us have questioned the cost of initially installing the solar modules due higher costs accompanying it. However, as the demand for solar panels has increased over the past decade and as the magnitude of solar companies in the market, the prices have become competitive.
When calculating the financial benefits of a Solar PV system , it is important to consider the average daily sunlight hours, the current average daily electricity consumption, and the size of the solar PV system to install and the cost of a fully installed solar power system.
A 6.6kW solar PV system in Melbourne can cost approximately $3500-$4900. Let’s suppose your average daily consumption is 10-12kW, on an average a 6.6kW solar power system can produce 17-22kW a day. Melbourne receives an average of 7 hours of sunlight a day. According to the CEC chart 1kW solar system in Melbourne during sunlight hours can produce 3.6KW of power. This means with 7 hours of sunlight a 6.6kW solar PV system can generate 22-24kW a day. Considering your usage between 10-12KW, you can feed in the extra 10-12kW a day to the grid and receive the credits for the same on your electricity bills. However, it is advised to use maximum electrical appliances during the day one after the other (preferably with automated timers) to use most of the power generated by your solar PV system.
To cut it short, roughly a 6.6kW solar system in Melbourne can save you up to $900-$1500* annually, which means the system pays for itself within 5-7* years, letting you enjoy free power for the lifespan of solar.
Reliability of Renewable Energy
The fact that renewable energy sources like wind and solar electricity are constant makes them reliable. Energy is available for use as long as the wind blows and the sun shines. With a rate of failure of about 0.05 percent, solar panels are highly reliable. This means out of 20,000 solar panels only 10 experience failure. However, the rate of failure varies with the location you reside in.
If your panels do not produce electricity and are under the warranty period, you are more likely to claim the warranties and get the support from your retailer, however, there are various types of warranties and terms and conditions in the contract of solar PV system. Make sure you discuss and read all of them before signing the deal.
Solar investment made simple with Solar Miner
Solar Miner is the most preferred and reliable solar retailer in Victoria. Solar Victoria is offering solar rebates of up to $1400 and an interest free loan amount of the same for switching to solar. Get in touch with our team at 1300285885 to learn more about the best solar power system for your property and discuss your electricity needs.