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Why 2024 is the Best Time to Invest in Solar⚡Time's Ticking!

Posted 7 Dec '23

4 Reasons Why Solar Might Be a Good Option For You⚡

From first home buyers to a climate-conscious generation.

Australia is slowly moving towards a brighter (pun not intended) future with our renewable energy initiatives and a growing awareness of the current climate crisis. Solar power continues to play a key role in establishing an accessible industry for everyday Aussies looking to reduce their carbon footprint and contribute to sustainability of our environment.

However, for Aussies, investment in solar can feel like a non-urgent matter: “why buy now when I could buy later?” For first-home-buyers looking to make the most of the NSW Government First Home Buyer initiative, the purchase of a residential solar system may be a low priority.

Allow us to demonstrate why Australians should be considering investing in solar now, rather than later.

 

Electricity Bills - Lower Your Monthly Expenses

The most immediate benefit of investing in solar energy as an Australian First Home Buyer or young adult is the savings you will see on your regular electricity bills. The recent and continued spikes in energy costs have caught many Australians off-guard, particularly new homeowners. The best way to avoid Bill Shock - reduce your reliance on the electricity grid.

During daylight hours when the sun is shining, solar panels in a photovoltaic (PV) system convert sunlight into electrical power. By aligning some of your home electricity consumption with these peak production hours, you can maximise the benefits of solar energy.

For example, setting timers to run high-energy appliances like washing machines, dryers, or dishwashers during the middle of the day when your solar PV system is most active allows you to utilise the electricity it generates directly. This reduces your reliance on the electrical grid during those hours and potentially leads to lower electricity bills.

By strategically adjusting your electricity usage patterns, you optimise the cost savings associated with solar power. The surplus energy generated during the day can sometimes be fed back into the grid, earning you credits and reducing your overall electricity costs. 

By investing in solar sooner rather than later, Aussies can reduce their costly monthly bills from the jump.

Return On Investment Don’t Hold Off!

For First Home Buyers and Young Aussies, budget is king.
Making a weekly, monthly and annual financial plan to get the most out of your income is essential for setting yourself up for the future, and many new homeowners understand and adapt to this way of life.

Some Australians may feel that postponing an investment in solar is being budget-mindful - when in actual fact, putting off a residential solar investment to the future is actually HURTING your budget.

Industry secret: solar is progressively getting more expensive for the consumer!

Innovation is a constant process, and though the renewable energy industry is getting sleeker, smarter, and more efficient. The lower prices in manufacturing and installation do not off-set the lessening of Australian Government rebates.

The federal solar rebate (STC) for the installation of solar panels is designed to gradually decrease until 2030, diminishing the initial advantages of adopting residential solar. Savvy consumers have caught on to this pattern, leading to a surge in the adoption of new solar systems as individuals aim to capitalise on the lowered prices that will be in effect for the next seven years.

Translation: every year you put off installing solar, it gets more expensive! Though Elite Power Group commits to providing you with the highest quality at the lowest price, we cannot control the government’s policies. We can only recommend that you invest as soon as possible.

The standard return on investment for a 6.6kW residential solar system with Elite Power Group is 3-5 years. This means that all energy savings after this period is effectively money in your pocket! With First Home Buyers traditionally holding their investment for a long period of time, as is recommended by real estate experts, installing residential solar upon buying your new home is the best way to ensure future return on investment.


Increasing Your Property Value

A home is one of the largest investments that many Australians will make in their lives. Understandably, they want to be sure that this investment will appreciate over time.
Solar power is a home upgrade with great potential to enhance property value, surpassing many other more expensive improvements. Given the universal need for electricity or some form of power at home, the previously outlined advantages of reduced energy costs will make your home more appealing to prospective buyers.

Current statistics reveal that approximately 19% of the Australian population incorporates some form of solar energy in their homes, whether for water heating assistance or a comprehensive solar power system that feeds excess energy back into the grid. Given the positive perception of solar energy among Australians, it has become a very valuable selling point on the property market.

Research underscores that an increase in the number of solar panels on a roof correlates with a higher home value, estimating an increment of almost $6,000 per kilowatt of solar energy. For a 6.6kW installation, this equates to a potential addition of over $39,000 in the retail value of your home!

Public perception can and does sway the property market, and with Australia’s expanding renewable energy industry, the installation of solar panels today are sure to increase your property value no matter how far down the track you may decide to sell.

 

Literally Saving The Planet!

And finally, the best reason of all to invest in solar - the Earth! Young Aussies are part of a generation that cares deeply about the respect and sustainability of our natural environment, and residential solar systems are a great way for First Home Buyers and young families to have a tangible impact on the fight against climate change in Australia.

A standard 6.6kW solar system from Elite Power Group helps customers reduce their personal COproduction by over EIGHT TONS every year.

Do away with the fossil-fueled power of the grid, and embrace the clean energy that moves us towards a carbon-neutral future!

If you are a First Home Buyer or a young Aussie (or even young at heart), invest in solar now!


 


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