Posted on 07 September 2022
Did you know that home solar systems can offset your electricity bills? They can! But how much money can home solar systems offset from your household electricity bill? It’s a common question for households looking into solar power, so the team at Solar Power Direct takes a look at the benefits of installing solar systems Adelaide wide. We discuss feed in tariffs and where the best power bill savings can be made, when installing residential solar panels and solar batteries Adelaide and South Australia wide.
The amount of money that you can save on your electricity bills by installing a solar system, depends on your home’s location, the size of your system, how much power your household uses, and whether you have a solar battery. A recent survey averaged the solar power saving for homes in South Australia at $280 per quarter. Different sized homes can offer different savings. For example, a 5 kWh north-facing residential solar system with a feed in tariff of 12c/kWh, based on a yearly power usage of $1488, could create energy savings of up to $1340 per year.
Feed in tariffs, or FiTs, are credits you receive from your energy provider for feeding your excess energy back into the power grid. Electricity prices and feed in tariffs are determined by your electricity provider. If your FiT from your residential solar panels is 12c/kWh, and your electricity rate is 31c/kWh, then the cost of buying electricity is much higher than the rate of selling it back. If you have a good margin of excess power, this could give you a decent saving on your bill, especially during the peak daylight hours. Save money with the best solar panels South Australia has to offer, today!
The primary function of installing solar batteries Adelaide is to store the energy that is collected from your solar panels. Your solar system has three parts: the residential solar panels that capture the sun, the solar panel inverters that convert the electricity into power, and the battery that stores the electricity. Since residential solar panels only gather the sun’s energy when the sun is up, a solar battery is essential if you want to use your own solar generated energy at night, or on overcast days. Most solar economists agree that using as much of your own solar generated power as possible, is the best way to save money on your electricity bill.