If you are like me and all our friends, we all jumped in, in 2011,12 and 13 and filled our homes with Solar to get the 44 Cent Solar feed in tariff.
Without a doubt one of the best single investments most of us have ever done. It saved us up to $3500 a year on our energy bills every year for the next 13 years. Many of us used to wait for the Ergon meter reader to come around and give him a hug as he read the energy meter (because the yearly Ergon Cheque from our solar credits would pay for our yearly holiday.)
My uncle who is in his eighties now, has not had a power bill since 2011, and has been receiving a cheque from Ergon for around $1500 every single year from the credits from his solar system!
All good things can come to an end, however, can you believe this magnificent scheme ends in 2028? Can you believe it has come so quickly?
What do we do now?
Things to consider is that all our Solar Panels are now out of the 10 Year Product Warranty. So, if a panel gets a defect, manufacturers are not covering them if the panel is still producing power in line with the 25-year Performance warranty. This is a problem as these defects can be dangerous. In saying this when was the last time you had someone come out and give your solar system a Health Check?
Some of our customers are also having their inverters starting to fail as they are well over ten years old now. It is costing them over $2000 to have it replaced.
Maximise Value
With just over 3.5 years left on the 44 Cent Feed in tariff, it makes significant sense to replace your system to a brand-new system now for these reasons:
- Government Rebates: You can still get around $1750 from the government to replace a 5KW Solar System. This reduces significantly over the next couple of years. If you wait until 2028 you will only get around $400 and $0 in 2030. It is a lot cheaper to upgrade the system now!
- Faster Payback: It will be only a 2.5 to 3.5 year payback on this new system while you can still get the 44 Cent Feed in tariff. If you wait for 2028 it will be around 5 – 7 years pay back.
- New Powerful System: The new 440W panels today are pretty much the same size as the old 250W Panels. They are also more efficient and will save you more money. The new solar inverters are also a lot more efficient.
- Better Warranties: The new Solar Panels have 25-year Product Warranty and 30 Year Production Warranty. This will set most of us up for life with these guys. Most new inverters have a 10 year warranty.
- Battery Ready: This new system will be much better to add a battery too.
- Getting an Electric Car: Having a high performing solar system is essential for Electric Vehicle Charging.
Get in touch
If you have any questions, come out and see our team at our new office at 85 Bundock Street, Belgian Gardens.
Call us: Phone 07 4459 4777
Email us: info@horanandbirdsolar.com.au
Founder of Horan & Bird. Director of Master Electricians Australia and Board Member of Solar Accreditation Australia. John has played a key entrepreneurial role in the transformation of the Energy Landscape in Queensland.