Australia is one of the cheapest countries in the world for installing solar panels and 2021 may prove to be the cheapest year ever.
There’s only one reason why putting solar on your roof in Australia is so cheap and that is, Government incentives.
The graph below shows the out-of-pocket cost of installing solar, and how it’s very likely to increase because of reduced Government incentives.
* ‘True Cost’ of Solar means how much it would cost if there weren’t any Government incentives.
Unfortunately, there is more bad news! After falling for the past six years, business electricity prices are on the rise.
Even though there are a lot of solar panels in Australia now, most electricity still comes from burning coal and gas and this is going to be the case for at least another 10 to 15 years. Coal and gas prices move with the ‘oil’ price and oil prices have gone up from a low of $50 a barrel in 2016 to $100 a barrel today (Australian dollars).
Also, our electricity grid (Grid) in Western Australia hasn’t had any major upgrades for over 10 years, despite our population growing by 16% (370,000 people) in that time. This is because all the electricity doesn’t have to travel up from the coal fields of Collie anymore.
However, with Electric Vehicle numbers increasing and more people working from home, there will be major Grid upgrades required. On top of this, maintaining the Grid is costing more and more.
Electricians are in charge of the Grid maintenance. As Western Australia enters a new mining boom, the demand for electricians is forcing wages up significantly, and with it the cost of maintaining the Grid.
So, both the electricity cost and the Grid maintenance cost is going up and therefore so will your electricity bills.
What action should you take?
- Get a professional solar feasibility assessment done for your business or property.
- Getting solar quotes just leads to more confusion and ends up being a lottery.
- Where an investment in solar is worthwhile, do it ASAP.
- Solar may be as affordable as it is ever going to be.
- Electricity prices are going up.
About Solar Suite
Solar Suite are a leading commercial solar energy company located in Booragoon, Western Australia with an extensive amount of experience in all facets of the solar industry. Backed with an international team of experts, they offer engineering, procurement and construction (EPC) services to large-scale commercial solar projects and PV Solar retailers in the Australasian region.
If you’d like to learn more about the benefits of installing solar panels and why doing it now is your best option, the specialists at Solar Suite can help. Make smart energy decisions by getting in touch with them today.
How to use these savings to make smart business decisions
The money you’ve saved by using solar panels can be redirected into other areas of your business to initiate growth. Whether it’s upgrading your business systems, upskilling your employees or outsourcing your administration tasks, our accounting and bookkeeping experts can help you. Get in touch to find out how we can help.