The major reason homes and businesses install solar is to reduce their energy costs and hedge against future prices rises.
The major benefit of quality solar systems is that once it is installed you enjoy a fixed cost of electricity for the rest of the systems life. On average, a solar system will generate electricity for between $0.15c kWh and $0.25c kWh over its lifetime depending on your situation. Compared to the National average electricity price of $0.28c kWh it’s easy to understand why it’s so popular.
So, solar offers fixed generation costs and can be (very) competitive depending on what price you pay for electricity – but is it a good investment?
Of course, each project is slightly different and we offer sophisticated modelling to calculate an expected outcome for your project. If you would like to see what Return On Investment is likely, you can use LG Solar’s ROI calculator to get a quick estimate.
In general however, the following graph (produced by Energy Matters who we install for) shows how your solar return on investment will look in various States, compared to regular investments.
As you can see, no matter where you live in Australia in almost every case the return on investment from a solar system is fantastic - and better than almost every other investment.