Is Solar Still a Viable Option with the Solar Scheme Changes?

Over the past few weeks Australian consumers have been shaken by sudden changes and adjustments to the solar schemes and bonuses that are currently being implemented across some States. New South Wales is still broiled in controversy and possible legal action over the unexpected cut back on the kilowatt per hour rate of its Premium feed in tariff scheme from 66c to 44c, and Queensland has set a much lower cap on their allowable system size for Premium Feed in Tariff eligibility; from 30KWh down to only 5KWH. Also the Solar Multiplier will drop from 5 down to 3 Australia wide as of July 1st.

Originally the solar bonuses and schemes were designed to aid the community in making the switch to renewable energy sources, but naturally some people have lost a bit of confidence with the system at the moment. So the question is, are solar panels still a viable option with the new schemes as they stand?

The answer is a resounding yes!

Of course the changes to the schemes may affect household who have installed the system and had expected a higher return on their investment, but even with the changes solar power still guarantees any householder or business reduced or even eliminated electric bills. Queensland set a cap on its system size to allow proper allocation of the renewable energy subsidies and to prevent the abuse of the bonuses through people actively targeting medium size solar investments for income generation on systems 10 -30KWh’s, but a3-4KW system size is more than enough for an average household to be completely self-sustaining in their power needs and will still qualify for the standard feed in tariff.

NSW had cut back on its premium feed in tariff scheme to the level more in line with the other states (it was widely considered much too high to be sustainable when it was set), but more households will now be able to qualify for the standard rate which is equal or slightly favourable to the price you pay to purchase your electricity now.

Anyone claiming that solar power is no longer the solution has not done their facts and figures. With the ever rising cost of electricity continuing to escalate due to the drying up of our other fossil fuel resources Solar Power PV Systems are still a very economically viable alternative. While the revised schemes and bonuses mean that it may take an extra year or 2 for an average system to pay for itself you are still only looking at about 7-8 years at today’s electricity prices, which gives you a good 12 years of free energy from the sun after that. It also adds immediately to your property values equally or above what your purchase price was.

To sum up; the good news for consumers thinking about buying solar panels is that these developments are putting pressure on the many solar retailers and forcing margins to shrink as prices become more competitive. This is a good time to shop around as there will likely be quite a variance between quotes, but make sure that you are pricing apples with apples. The quality of panels and inverters varies widely, and since they are supposed to last 20 plus years you want to make sure you buy the best you can afford now. A high quality well designed system will deliver much greater energy output over its lifetime, and the small initial price difference will pay for itself multiple times over with your electricity bill savings.

So you want to choose a large, well established solar company who specialises in Solar PV Systems, and has the superior buying power to deliver high quality systems at the best prices!