Home Solar Power is now cheaper than Coal By installing Solar Power on your home you now have the ability to create your own clean electricity for less cost than polluting coal based electricity whilst also doing your bit towards saving the planet.
How Solar Power works:
Solar Panels or photovoltaic panels convert sunlight into direct current electricity. This DC electricity is then distributed to a box called an inverter that converts this electricity into AC power that can be used within your house or be connected to the public grid for other houses in the area to purchase.
The Price you are currently paying for electricity:
Depending on the state and location you are in and depending on the time of day you use electricity will depend on how much you are charged for it. On average, households can pay between $0.30 and $0.40 per KwH for electricity during peak hours which are usually between 2pm and 8pm. Costs for shoulder period electricity may be around $0.15 to $0.20 per KwH. .
The Price of Solar Electricity:
As most homeowners buy or lease a Solar Power System rather than actually buy the electricity, the standard mechanism for determining the actual cost of this electricity is done using the LCOE (Levelised Cost of Electricity). This is calculated by taking the upfront cost of the system and dividing it by the amount of KwH’s it will produce over its lifetime. .
At the moment a 1.5kW Solar Installation costs around $2,500 fully installed (after available rebates). Over the expected 20 year life of the system, it should produce around 36,000 KwH’s. When dividing the upfront system cost by this number, it equates to an average electricity price of under $0.07 per KwH – significantly cheaper than current electricity charges. As electricity prices significantly increase over time this difference becomes even greater, as the electricity costs from the Solar Power installation remain the same.
To understand your options for getting your home powered with Solar Panels, or to understand more about Commercial Solar Power contact Todae Solar on 1300 GO SOLAR for high quality Solar Power Installations across Australia.