Investing in solar panels Adelaide plans – How feasible is it?
For a country that receives more sunlight as compared to many other countries across the globe, the number of households opting for solar generated power and energy should have been more. However, things are looking up and have taken giant strides as far as investing in this sector is concerned.
In this article, let us focus on the following 2 essential aspects related to the same, namely,
- Buying the best solar panels for your home.
- Overview of the solar panel industry in Adelaide.
Let us deal with one sub-topic at a time in the paragraphs that follow.
Buying the best solar panels for your home
More and more households are installing solar panels in their homes in Adelaide these days, and one of the main benefits that they plan to avail is enjoying power at a reduced cost since the cost of electricity is rising every day.
You can go through briefly, what you need to know before investing in a PV or photovoltaic system on your rooftop.
- Size of the solar panel you require- This will depend on the electricity consumption of your home. Roughly speaking, a household uses 25kWh of energy per day. As such, if you opt for a 5kW capacity of solar panels Adelaide PV system, it should meet your household requirement.
- Cost of solar panels – If you take the average cost of these solar panels in the major cities, you will have to incur an expense of approximately $5,000 plus for using a 5kW system. This is the minimum; the figures will vary depending on the consumption.
- How long does it take to enjoy returns- This varies from one city in Australia to another. As far as Adelaide is concerned, you can expect to start enjoying the paybacks within 2 years to 3 years from the time of installation. It is 5 years in Melbourne, 3 to 4 years in Perth, and 4 years in Sydney.
Overview of the solar panel industry in Adelaide
The fact that you will be in a better position to enjoy ROI and save your hard-earned money can be better understood if you go through the potential that this sector is offering or will continue to offer in the forthcoming days, which is briefly written below.
As of 2017, the City of Adelaide announced that quite a number of solar panels would be joining the existing PV systems. In fact, the areas where you can see the projects coming up include areas like Wyatt UPark, Adelaide Aquatic Centre, and Adelaide Town Hall, to name a few sites.
Data from Clean Energy Regulator reveals that as of May 2018, “633 small scales” solar PV systems were in place that collectively records power generation capacity of 4.3MW.
According to the Australian PV Institute data release, CBD or Central Business District in Adelaide can support approximately 129MW rooftop solar panels with pinning hopes of 174-gigawatt hours of electricity generation every year.
Not only that, but data also states that with more solar panels and PV systems in place, Adelaide will attain its goal of “carbon- neutrality” by the year 2020.