To choose solar panels in Australia, you need to consider the cost and quality of your solar vendor’s products. Besides that, you need to think about the installation process and the warranties included with your system upon completion.
At Connected Solar Gippsland, we highly recommend that clients plan ahead before purchasing a solar PV system for their properties. This will help them prepare a budget while learning what to expect from their systems.
This blog will discuss the cost of installing solar panels, the average payback time, the best time to buy, and what to check before hiring a solar panel installer.
How Much Do Solar Panels Cost?
The cost of buying solar panels is based on the size of the solar system, installation costs, and applicable rebates that will be deducted from the original price. For example, a regular 3kW solar system that has about 8 panels installed will usually cost between $3,500 and $5,000.
Take a look at the estimated cost based on system size below:
- 1.5kW with 4 solar panels: $2,500 to $4,000
- 2kW with 6 solar panels: $3,000 to $4,500
- 3kW with 8 solar panels: $3,500 to $5,000
- 4kW with 11 solar panels: $4,000 to $6,000
- 5kW with 14 solar panels: $4,500 to $8,000
- 6.6kW with 18 solar panels: $5,500 to $9,000
- 7kW with 19 solar panels: $6,500 to $10,000
- 8kW with 22 solar panels: $7,500 to $11,000
- 10kW with 27 solar panels: $8,000 to $13,000
What is the Average Payback Time for Solar Panels?
The average payback time for solar panels is approximately 2.3 years. This information is based on a 5kW solar system in Victoria. However, the payback time will highly depend on factors such as the size of the system, initial upfront expenses, the amount of energy consumed, and the feed-in tariff rate.
When is the Best Time to Buy Solar Panels?
Now is the best time to invest in a solar power system due to the rebates available from the local government. You can get solar panel rebates of up to $1,400, along with the option to apply for an interest-free loan.
There are a few incentives that can make investing in solar appealing nowadays. Getting a government rebate on solar can be highly beneficial for people who want to save on the costs of installation.
What to Check Before Buying Solar Panels?
Here are the main things to consider before buying solar panels:
- You need to own the property or request permission from your landlord to install a solar power system.
- Your location needs to have good access to sunlight and isn’t obstructed by trees or other structures.
- Your roof needs to be at least 15 square metres to accommodate the solar panels.
- The home is facing in the right direction so your system can benefit from the most efficient solar panel angle.
- The installation, and everything associated with it, complies with local government by-laws.