Power Price hike in WA

From July 1, 2017 power price of Australia has increased tremendously. Household electricity bills would increase by around $167 a year. Government claims to have made this change to fix their huge financial deficit. Due to budget repair people will have to face another $440 per year as a part of change in various fees. Rocketing power prices encourages investments in wind and solar power. More and more people are
Benefits of solar power

  1. Eliminates electricity bill
  2. Generates a passive income by exporting excess energy to grid.
  3. Increases price value of property.
  4. Helps environment by reducing gas emissions
  5. Solar is a secure investment.
  6. Short payback periods.

Benefits of solar power

  1. Eliminate electricity bills.
    With solar installation you can start saving from day 1. Solar energy will power your house thus eliminating or reducing your electricity bill.
  2. Generates passive income.
    You get money back for greening your house. The excess energy produced by our panels can be exported to the grid, thus generating a passive income.
  3. Increases property value.
    Solar energy can fetch a much higher asking price when it comes to selling houses. Having solar panels increase attractiveness of house in the market. Nowadays more and more people are looking for energy efficient houses. A study conducted by National Renewable Energy Laboratory (NREL) concluded that homes with solar panels sell 20% faster and for 17%more money than the ones that are not energy efficient. Even tenants are willing to pay 10% extra for such houses.
  4. Helps environment
    Solar power system derives energy from the Sun. It helps us combat greenhouse gas emissions and our collective dependence on fossil fuels which, when burnt to produce electricity, emits harmful gases that can lead to global warming. Carbon footprint per unit of solar energy production is 95% lesser than that of fossil fuel power plants. Renewable energy improves public health by providing unpolluted air and water. By replacing fossil fuels with solar power we can reduce premature mortality and overall health care costs.
  5. Solar is a secure investment.
    Most of the providers give a 20 -25 year performance guarantee for the solar panels. The standard guarantee is 80 % Performance even after 25 years.
  6. Short payback periods.
    Solar has short payback period. A 5KW solar can get the pay back in less than 10 years for sure. There are situations where they got paid back even in 5 years. A report by ATA says a 5KW system in Melbourne generates around 7000KWh and earn $790 per year. If the system cost around $6400, they should be able to get paid back in less than 9 years. Payback period depends on the energy produced by panels and the energy consumed by the owners. You will have to pay $169 even if you install solar, but installation will help you get back this amount very soon.

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