New Zealand, in comparison to the rest of the developed world, has very few solar power systems powering homes. In fact, roughly 1.2% of households in New Zealand have solar panels installed on their roofs. Slightly concerning, but the good news is many kiwis are realising the many advantages that solar power can bring. The demand for solar panels is finally starting to grow.
Some media outlets have spun negative opinions on solar power in the past, and often their claims include the tired and unfounded view that solar panels are uneconomical and inefficient. Truth be told, not only is solar power far better for the environment than traditional power production methods, it’s also good for your wallet - and we have the numbers to prove it.
Solar power, and all of its benefits, continues to improve every year. Solar panel efficiency increases on an annual basis, technology in inverters and batteries are consistently getting better, and prices continue to fall.
Interested in ball park figures and prices for solar power? Click here. To receive a quote on the price for an installed solar power system on your home click here. You’ll receive 3 free quotes, from trusted and professional solar power installers.
The 6 Main Advantages of Solar Power:
- Solar power reduces your electricity bills, saving you hundreds or even thousands each year.
Depending on the size of the system installed, annual savings can range between $600 to $1,800. Grid-electricity prices continue to increase in New Zealand at a rate of at least 2% every year. Purchasing a solar power system in the current market allows for the price of a certain portion of electricity to be locked in, protecting the household from further electricity price increases.
- Investing in solar power is better than keeping your money in the bank
Present day households should count themselves very fortunate with a 3% interest rate with $10K savings in a term deposit. Our research shows households with solar can expect a 6% return on a solar power system (purchased without financing). If a homeowners aim is to get a great return on investment from solar power, returns as high 15% are attainable. See the proof here>
If a homeowner needs to finance a solar power system with a home mortgage, would the numbers still stack up? Yes, because of the low-interest rates on offer (now roughly 4%), and if the average return from a solar power system is 9%, then the return comes in at around 5%.
- Solar power is a clean, green, 100% renewable energy resource
Renewable energy is a resource that will never run out, or be in limited supply. The sun will never run out of light, therefore we can rely on solar power for clean energy. Solar panels can use the existing infrastructure of domestic and commercial roofs and don’t disturb the surrounding environment. Solar panels don’t pollute the air while they are creating clean energy. Like any manufactured item, resources and energy go into producing solar panels and other parts required in the solar power system. But, solar panels are claimed to off-set any negative environmental consequences of manufacturing after two years of operation, which leaves 23 years or more of making 100% clean green energy.
- Solar power can provide electricity in a power outage
Stored solar power can be used in a power outage (if you have a battery included in your system). If there is a blackout the system will shut off from the grid, so solar users can be fully reliant on their own solar power, and energy from their battery storage. If you have a grid connect system without a battery you won’t have power in a power outage.
- Low maintenance
There isn’t much maintenance involved in owning a solar power system. Users will occasionally need to check the solar power systems monitoring to see if the expected amount of solar power has been produced during previous months. If there are any issues, support can be provided by the original solar installation company (or any solar installation company). It is also recommended solar panels be cleaned with soapy water once a year to remove any dust, pollen, leaves, moss etc. This will help to ensure the panels are performing to their maximum capacity.
- Solar power systems are more affordable than ever
The pricing of solar power systems has plummeted over the last 11 years. Back in 2008 the average price for a 3kW system was $40,000, and now that same system with improved technology is roughly $8,500. Solar power is affordable for families throughout New Zealand, and is considered to be a good financial decision.