Is Solar Still Viable with Changes to Solar Schemes by Premier Solar

Is Solar Still a Viable Option With Changes to Solar Schemes?

Over the past few weeks Australian consumers have been understandably shaken by sudden changes and adjustments to the solar schemes and bonuses that are currently being implemented across some States. New South Wales is still embroiled in controversy and possible legal action over the unexpected cut back on the kilowatt per hour rate of its Premium feed in tariff scheme from 66c to 44c, and Queensland has now set a much lower cap on their allowable system size for Premium Feed in Tariff eligibility; from 30KWh down to only 5KWH. Also the Solar Multiplier will drop from 5 down to 3 Australia wide as of July 1st.

Originally the solar bonuses and schemes were designed to aid the community in making the switch to renewable energy sources, but naturally some people have lost a bit of confidence in the system at the moment. So the question is, are solar panels still a viable option with the new schemes as they stand?

The answer is a resounding yes!

Of course the changes to the feed in tariff schemes will affect households who have installed the system and had expected a higher return on their investment. Even with the changes though, making the switch to solar power still guarantees any householder or business reduced, or even eliminated, electricity bills, with the price set in today's market rather then what you will be paying for electricity in 5 years time.

Queensland set a 5 KWh cap on its system size to allow proper allocation of the renewable energy subsidies and to prevent the bonuses being used by people actively targeting medium size solar investments for income generation on systems 10 -30KWh's. This is bad news in that regard, but a 3-4KW size system is sufficient for an average household to be completely self-sustaining in their power needs, and should still easily qualify for the premium feed in tariff unless the cap has already been met in your state. (Note that it is up to the individual power companies to accept your contract though, and if you live in an area which is already heavily installed with solar panels they may refuse, get in sooner rather than later in your street!)

NSW has cut back on its premium feed in tariff scheme to a level more in line with the other states (it was widely considered much too high to be sustainable when it was set), but more households will be able to qualify for the standard rate instead, which is still equal to or slightly favourable to the price you pay to purchase your electricity now.

Anyone claiming that solar power is no longer the solution has not done their facts and figures. With the rising cost of electricity continuing to escalate due to the drying up of our other fossil fuel resources, Solar Power PV Systems are still a very economically viable alternative. While the revised schemes and bonuses mean that it may take an extra year or 2 for an average system to pay for itself you are still only looking at about 7-8 years at today's electricity prices, which gives you a good 12 years of free energy from the sun after that. It also likely to add immediately to your property values equally or above what your purchase price was.

To sum up; the good news for consumers thinking about buying solar panels is that these developments are putting pressure on the many solar retailers and forcing margins to shrink as prices become more competitive. So this is a good time to shop around as you may find quite a variance between quotes, but make sure that you are pricing apples with apples... The quality of panels and inverters available varies widely, and since they are supposed to last 20 plus years you want to make sure you buy the best you can afford. A high quality well designed system will deliver much greater energy output over its lifetime, and the small initial price difference will pay for itself multiple times over with your electricity bill savings over 20 years.

So you want to choose a large, well established solar company who specialises in Solar Panel Systems, and has the superior buying power to deliver high quality systems at the best prices... We urge you to consider Premier Solar Australia, and take advantage of our Free In-Home Assessments & Quotes;

Call 1800 376 527 Today to Book Yours in greater Melbourne, Adelaide and Brisbane, plus the Sunshine Coast, Gympie and Fraser Coast.