When I look around the Southern Highlands I see a lot of buildings that still don't have solar panels on their roof.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
The question I want to ask the owners is, "What are you waiting for?" With recent increases in both electricity rates and Feed-in Tariffs (FIT is the amount you get paid for any excess solar power you send out to the grid) the financial benefit of going solar has never been better.
I buy my electricity from a small, ethical retailer called Energy Locals and I pay 22c/kWh for the power I import and I get 13c/kWh for the excess solar I export.
At those prices, if you were to install a 5kW solar system costing $7500 you would get a return on your investment of between 12 percent and 21 percent.
The more of your own solar power you can use during the day, the better your return on investment will be.
But even if you export every bit of your solar power to the grid you will still make 12 percent on your investment, plus you'll be doing something positive for the environment.
You won't get that from a bank!
If you're the owner of a small to medium-sized business, the returns can be even better.
If you're a landlord, there are systems you can access through organisations like Matter or SunTenants that allow both you and your tenants to share the benefits of solar power.
So, if you've own a roof, it's time to think about putting it to work for you by installing solar panels.
And if you already have a solar system, it's a good time to look at adding more.