Upfront costs

A solar system can cost between $10,000-$30,000 to install depending on your energy use, and the type of system that you choose to install on your home. Adding a battery will increase the initial cost, but it will give you options – allowing you to store the excess energy your roof generates during the day to use in the evening, or during a power cut. It only takes approximately 7-9 years to pay back this initial outlay for the solar energy system. This is because you are generating energy from your roof that you would otherwise be purchasing from the grid.

Savings

Expect the annual savings with a solar energy system to be seasonal. During summer, your solar energy system will generate more energy, as the days are longer. This means you will have more energy to power your home, as well as more energy exported to the grid. Any exported energy will appear as a credit on your monthly power bill.

Over a year, you will typically have lower power bills during the summer period. In winter, you will still generate energy but the shorter days means it won’t be as much as summer. It is important to think about the seasonality of solar when installing a system.

Typically, energy from solar works out to be about 75% cheaper than what you would otherwise spend on energy over the 30 year lifetime of the solar system. When you enquire with one of our installation partners about solar for your home, they will take you through an estimate of what the savings will look like for your home. You can find a solar installer here.

Self-consumption of solar energy

The more you can adjust your energy habits to maximise your use of your solar energy, the more you are likely to save. There are some easy ways to do this. Use timers on big energy users like washing machines, dishwashers and heated pools to start when solar is generating. You can even make dinner during the day, to reheat in the evening. If you don’t use a lot of energy during the day, it’s a good idea to look at installing a battery. This will allow you to store any energy that is generated during the day, to use in the evening., This helps to further reduce your power bill, as power prices are most expensive in the evening when the demand for energy is highest.

Finance options

There are a number of finance options that can help you with the initial outlay costs of a solar energy system. Banks offer green loans or sustainable loans that you are able to add on to your mortgage at low interest rates. For example, Westpac offer 0% interest up to $50,000 on a 5 year term, while ANZ offer 1% interest for up to $80,000 on a 3 year term. Check with your bank what is available to you. Likewise, some solar installers will be able to offer interest-free payment periods.

Location

The savings you can make with solar will change depending on where your home is located. This will change for a couple of reasons. Firstly, if you are in an area where there are higher sunshine hours then you will generate more solar energy, to either use in your home, or to export to the grid., You will earn more grid energy credits that will lower your power bill.

Secondly, there are different prices for power around the country. The higher your power prices are, the more of an impact you can make on your power bill. For example, in Northland, where power prices are high, if you can generate your own energy it means you won’t be paying as much on your power bill.

Lifespan of the system

Although the initial outlay of the solar energy system can seem expensive, it is a long-term investment. A typical solar system will continue to generate energy for at least 30 years. By the time the system reaches that 30-year milestone it will still be generating at approximately 85% of its original performance. Once the solar energy system is installed, it really is set and forget.

Make sure you get the best power plan to suit your solar system

To make the most of your solar energy system, you want to make sure you are on a power plan that rewards you. Our ecoSOLAR plan has been designed specifically for homes who have solar installed. The plan offers peak pricing for any solar energy sold back to the grid during periods when demand for energy is highest. You will receive 21c/kWh (plus lines and network charges and GST) during peak pricing periods 7-11am and 5-9pm. During off-peak periods, you will receive 16c/kWh (plus lines and network charges and GST) from 11am-5pm and 9pm-7am. You can learn more about our solar plan here.