Solar panels have a typical payback period of 4 to 7 years. This does depend on each households energy consumption. The best way to take advantage of solar panels is to use them the right way. Solar energy is used first by your appliances and any surplus power exported back to the grid. The solar feed-in tariff is paid to you for the power fed back into the grid. A lot of people tend to see this as the benefit of solar when really the biggest saver is the solar power generated and used by your household.
Electricity retailers pay anywhere from 8 – 20 cents for each kWh exported back to the grid. Whereas the solar power used by the home saves around 30c per kWh. This is because you are not buying that power from your retailer but using the energy generated by your solar panels. So set your washing machines, dishwashers and dryers to run their cycles during the day to maximise solar power and pay your investment back quicker.
The other top tip is positioning the solar panels to maximise their solar capture.
Do you have existing Solar Panels? When was the last time they had maintenance?
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