Quote:
Originally Posted by ford man xf
Would this actually be possible, wouldn't it really depend on a number of factors like size of home, how many people live there etc.? I wouldn't mind paying the money, after a few years it's paid itself off.
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The guy's calculations are wrong....
He lives in Melbourne and has only calculated the solar energy generated during the summer / autumn months from 1st Dec 2016. On overcast Melbourne days during winter, the gains are far less. He needs to calculate an entire year to be more accurate.
A friend of mine recently spent $20,000 on a solar panel system including an L.G. battery for his home.
I said to him if he had put the $20,000 into super or an investment compounding at 5% p.a., after 10 years he would have $32,577 before tax.
He currently spends $2,500 p.a. on electricity, so will take him at least 8 years to recover the cost, and that's assuming he has a $0 electricity bill.
The problem with solar battery storage at the present time is the high cost and life span of them. If the batteries of say 12KWh capacity were down to around $3,000 - $4,000, then it would be worth it.
However, I've been told by a solar supplier that the good thing is that in Victoria from 1st July, the feed in tariff is increasing to 11 cents per kilowatt for new installations... So anyone considering going solar should hold off.