While installing a solar energy system can start saving you money immediately, the initial set-up costs can still be prohibitive to some.
So that everyone can reap the benefits of solar energy, Ionics offers no-interest finance for our solar panel installations in Cairns.
By financing your solar energy system, you can avoid these up-front costs but does it still make financial sense?
Let’s have a look at an example:
Margaret and John have a quarterly power bill of $690*
They wish to finance a 6kW solar panel system which reduces their power bill by $466 per quarter (conservative figures)
Finance on a $5,750 system means a quarterly repayment of $430 (see our working at the bottom of this blog)
As you can see in this example, Margaret and John are able to cover the cost of their repayments solely from their energy bill savings, while still saving some money each quarter.
Once their finance is paid off in full, Margaret and John are then able to benefit from the full savings their solar energy system brings – all while avoiding the large set-up costs!
Of course power usage varies from household to household, so call Ionics today on 1300 960 117 to discuss how a solar energy system can work for you.
If you are interested in how we calculated our figures.
A 6kW system will produce on average 27kW/h per day in Cairns.
Customers typically pay around 0.24c per kW/h they buy from Ergon.
This would equal a saving from the bill of $583 if the customer was using all the power they produce.
A more likely scenario is that the customer will send some of that power back to the grid, let’s say 25%.
6.75kW/h (25% of solar generation) sent to the grid will receive a credit from Ergon to the value of $42.50.
The remainder of the solar generation will be used by the house when needed and result in a saving of $437.
Total savings we would expect to be between $400 and $500 per quarter.