fromthetoon

Hi,
We keep receiving these calls asking us to invest in solar panels. I understand the current return rate is 8c in QLD. Does this mean that if we have the Tariff 11 rate of 30c, we would only pay 23c pkw/hr?
If this is the case, then surely it would take quite some time for the cost of having the panels installed, to be returned!
Final question., is it worth having these panels installed?
Thanks

lesleys

No. It doesn't work that way. Solar power you produce and use yourself is free to you. Excess power is fed back to the supplier. You pay the normal rate after dark or for anything more you need on top of your solar.

The 8c FIT rate has ended.

Eligibility criteria for the solar feed-in tariff - Department of Energy and Water Supply

spuddyo

One consideration to take into account is the cost of repairs and replacement of components in a few years time when your solar system is no longer 'new'. I have a friend in the Electrical Contracting business who is getting more and more jobs replacing cracked solar panels, control units that are faulty and batteries that are past their best.

In some circumstances his clients are switching back to mains electricity, because despite the savings when it works, it's very expensive to fix when it doesn't. It appears that in some installations, by the time it's paid for itself it needs replacing.

Amazulu

The inverter is very prone to failure after a few years - and can be expensive to replace. It would be a good a idea to get the best you can when installing an initial setup

Solar panels are an evolving technology and are getting better all the time, but I agree, the costs may outweight the benefits

paulry

Hail storms must be manna from heaven for solar panel providers and installers.

Swerv-o

Manufacture of solar panels is also a highly noxious affair that generates lots of unpleasantness for the environment and consumes huge amounts of energy. Don't assume that in buying a solar set up you are in any way improving your green credentials...


S

fromthetoon

Thank you all for your advice - much appreciated.
I suppose the next question would be ask whether I would get my money back if we were to sell the house in a year's time i.e. would it add that much value to the house as suggested by the salesmen - as you would expect!!!

Buzzy--Bee

No. It will add absolutely nothing whatsoever.

You will get none of your money back so if you are thinking of selling in the next few years do not install solar.

BB

Amazulu

agree

lesleys

It will depend on
- how big a system it is (prices have dropped rapidly - in less than 2 years a 5kW system has fallen from $10K to $6K.
- when you use your electricity. If you don't use any after dark then you could have very small bills.
- how much electricity prices rise. Every time they increase you save more.

You have to do the sums for your own situation. Nobody else can tell you.

Our 5kW system will pay for itself well within 3 years. A hail storm cost us plenty with damage to this year's avocado crop, but our panels and all our neighbours' panels were fine.

Buzzy--Bee

That wasn't what he was asking.

The question was - "if I own a house that is worth $500,000, and I install a solar power system that costs $10,000, will I be able to sell the house for $510,000?" The answer is no, it will still be worth $500,000. Just like water features and Bali huts, solar power adds no $ at sale time.

BB

BadgeIsBack

But the new user can benefit from the solar...it's a nice to have.
However is the retail agreement fixed with the home: if so the new user could potentially use the 10 years plus left of the old generous tariff...in our scenario it would be a massive plus as they would barely get a bill the first few years until prices outpace tariff.

fromthetoon

Thanks to you all.
My plan is to ask my parents to buy me some panels and plant an avocado tree!
Then sell the house and move back to Brisbane to keep warm - Any jobs going?

lesleys

Not in Qld. When you sell the house the feed-in tariff finishes. It's non-transferable to either a new owner or another property.

Alfresco

Indeed!


Mmmm. Doesn't sound like it's worth it then.