Sizes of Solar Panel Systems
Every homeowner wants to reduce recurring costs wherever possible whether it is energy, telephone, broadband, water or so on. Installing solar panels on your house or business would significantly reduce your monthly energy bill but the extent of those savings is dependent on the size of your solar panel system.
Australia’s average daily consumption of energy for a three bedroom home usually falls between the range of 12kWh and 16kWh. If you decide to install a solar power system in your home the Australian government will give you a ‘discount’ of around $6,500 to $7,000 through the REC’s scheme.
Installing a solar system in your home will undoubtedly have an positive finincial impact in the long run. If you have a solar panel system in your home then you will be payed for the electricity that you produce through the feed-in tarriffs that are currently in place.
The money you save in the long run is directly proportional to the size of the solar panel system. The most common solar power installation types are the 1kW, the 3kW, the 5kW and the 10kW systems. Basically a 1kW system means that every hour that the system gets full sunlight it will produce 1kW of power. The 1kW solar panel system is the least expensive, but obviously it produces the least amount of the electricity.
Having a solar panel system installed will save you money on your electric bill and add considerable value to your home. A 5kW system will pretty much produce 100% of your households energy needs and more. So unless your electricity consumption is above average you would make money every month through the Feed-In Tariff payments system. It is estimated that most installations would pay themselves off in about four years, and, of course, after that you would get your electricity for free for an additional twenty years, the minimum amount guaranteed after purchase. However the production of your solar panels could in fact last up to forty years.
The larger the system , the faster that it pays itself off and the more money making potential it has. As a result it is best to get the biggest system that you can realistically afford as it will give you the biggest return on investment in the shortest time. A good example is the 10 kW system. If you had an average of 5 full hours of sunlight then the system would produce 50kW of energy, more than triple the average electricity consumption for Australian homes. This would mean that you would get regular credit from your energy company, instead of a bill and wouldn’t that be exciting!