Solar power benefits

Benefits of installing solar panels

There are many financial and environmental benefits that an investment in solar power can bring to you and society as a whole.

It is possible to pay back a new solar power system within 4 – 7 years, while your panels will deliver savings over their 25-year lifetime.

  • 1Financial benefits
  • 2Environmental benefits
  • 3Other benefits
solar power benefits graphic

Financial benefits

Deciding to go solar can deliver several financial benefits. It’s important to understand that these vary on a case-by-case basis, and any calculations are subject to many variables. You can use our solar power savings calculator to estimate your financial benefits. You can also view our calculator disclaimer here.

  • Once your system is operational, solar energy is free to produce
  • Your system will deliver annual savings to your electricity bill
  • Payback periods typically fall within 10 years (average)
  • You will be entitled to solar incentives when you purchase a solar system
  • Long-term savings can run into the tens of thousands of dollars.
  • You can take out a loan and pay nothing upfront. Calculate your repayments here.
  • You insure yourself against the risk of rising electricity prices
  • The value of your home will likely increase, all other things being equal.

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Environmental benefits

  • Solar energy is an infinite, renewable energy source.
  • The installation of a 6.6kW solar system will reduce greenhouse gas emissions by over 250 tonnes in its lifetime (Victoria, Australia)
  • There are no pollutants associated with the generation of solar power
  • Household solar power reduces the demand for fossil fuel driven energy sources.

Other benefits

  • Solar power systems require little to no maintenance once they are installed
  • Solar power is an improving technology, in particular solar storage.
  • Converting to solar power is easy! Our site is dedicated to helping you go solar.
  • Solar power is a particularly safe way to produce energy. You don’t have the associated risks that: nuclear, oil, gas and coal power plants bring.

Considerations when planning to go solar

The advantages of solar power far outweigh any disadvantages. There are, however, important considerations that may affect your decision to go solar.

  • Do your research. Solar power isn’t always right for everyone.
  • Solar power cannot be generated at night.
  • Installing a solar power system can be expensive.
  • Solar panels produce less energy during winter months.
  • Solar feed-in tariff rates are low in some states.
  • If you remain connected to the grid, you will still have to pay a supply charge to your retailer. In many cases, this charge is higher for owners of solar power systems. Go figure!

It’s generally a good idea

Generally, the benefits associated with solar power far outweigh the negatives. However, it really can vary depending on your circumstances. For some, the fact that solar power is a far better environmental solution to global energy needs is reason enough.

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