Benefits Of Solar Power
A local climate change solution
In NSW, 90% of our electricity is generated from coal which a major contributor of greenhouse gases and climate change. Renewable energy from solar panels does not produce greenhouse emissions and is pollution-free, therefore a worthwhile local environmental solution to a major global issue.
Cost savings
While there are upfront costs in buying solar power panels, they contribute to lower energy bills each year since you produce your own electricity and don’t need to purchase as much from your electricity provider. And by generating some of your own power, you are also protected from electricity price rises that have increased substantially over recent years.
Make money
As of January 2010, energy utilities in NSW will now be required to pay householders for all the energy that a solar power system generates at a premium, via the Gross Feed-In-Tariff. For an average 1 kW system, this means up to $1500 in your pocket each year for seven years.
An average one kilowatt photovoltaic (solar) system can save the average home up to $1500 each year on energy bills and up to 1.5 tonnes of greenhouse gas per year (this is equivalent to 28,000 balloons full of greenhouse gases).
Financial assistance
Upfront costs can be greatly reduced via incentive and financial assistance programs, such as the Green Loans scheme, Solar Credits Scheme from the Australian Government and the new NSW Gross Feed-in-Tariff (see above). This makes the return on investment very attractive. More information here.
Hassle-free long term investment
Solar power is a proven technology. Systems typically last for over 25 years (and even up to 40 years), and cost very little (if anything) to operate and maintain over this time. There are no moving parts so all that may be required is a clean of the panels from time to time, and even then only really during long dry periods since many systems are self-cleaning with water from rain.
Adding property value
Solar power panels installed on your property can also add value, as prospective buyers are increasingly more aware of the benefits of renewable energy and environmentally-friendly buildings. According to a recent survey, homes with green credentials can attract up to a 5-10% premium when sold.
