Is it worth it to install solar panels in 2022?

Solar modules prices are expected to rise. Energy crisis is emerging and solar prices are set to affect. The feed in tariff rates are constantly decreasing. You might have to pay the power company for feeding extra electricity back to the grid. You might have come across this news in the year 2020 and 2021. The year 2020 and 2021 has been a rollercoaster ride for the solar industry and our personal lives as well due to pandemic and other reasons. This brings you to question: is it worth it to install solar panels in 2022? If you are looking for a short answer and wouldn’t like to read further technicalities, the short answer is yes, it is worth it to install solar panels at Brisbane, Sydney, Adelaide, Goldcoast and anywhere across Australia. Let’s look at a few reasons why?

1. The rebates have reduced but the prices are still competitive

The Australian government provides a subsidy for installing solar panels on your roof in the form of small scale technology certificates (STCs). This initiative by the government makes it easy for the Australians to install a rooftop solar system with less prices. However, STCs reduce every year and solar prices still decrease further due to the competition in the solar industry. It is true that the solar market is competitive but waiting to install solar panels is only going to cost you more. The solar prices are set to increase in the coming months due to the energy crisis. SavvySolar is offering high quality systems at the most affordable prices with premium warranties for a limited period till the stock lasts. Speak to one of our consultants to learn more about the deal.

2. The feed in tariffs are still offering good credit

Feed in tariffs are the credits provided by your electricity retailer for feeding back the extra electricity produced by your solar panels. Suppose your panels produce 20kW a day and your consumption happens to be only 10kW, then the rest 10kW will be fed back to the grid and you shall receive credits for that on your electricity bill. You must have heard of solar owners saying “I’m on premium solar feed in tariffs”. Initially back in 2012 energy retailers offered premium cents like 50 cents per kW for feeding back the energy to the grid. Over the years the feed in tariffs have decreased and now are somewhere between 6-15 cents depending on your energy retailer. The more you wait the more you lose on the amount of cents you can get for feed in. Most of the energy retailers are ready to negotiate the amount of feed in cents they offer. Get SavvySolar solar assistant to guide you through your solar journey and provide you with an obligation free solar quote.

3. The climate is favorable for solar energy

On average, Australia receives the highest solar radiation per square meter in the world which makes it highly suitable for solar power systems. However, Australia is also the land to extreme natural calamities, bush fires to floods to wild storms we have seen it all. Switching to renewable energy can help us generate our own energy that is clean and free. We can all contribute to nature by reducing our dependence on fossil fuels and switching to renewable energy. 

4. you can maximize solar benefits

Solar is definitely worth it because it is possible to maximize the benefits of solar. It is generally advised to install a slightly bigger solar system than required for the property. The energy consumption is only going to increase in the future with the adding appliances at the property. If you install a bigger system it can benefit you financially as it shall generate more than required and also feed in more back to the grid. Speak to one of our solar experts to get your system sized correctly and learn more about your investments and return based on the solar power system.