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Can solar panels reduce my electricity bill to zero?

A solar panel system can generally make a substantial dent in a households electricity bill.

Savings of many thousands of dollars a year are possible for big residential power users but achieving a zero bill is difficult if not impossible in most Australian states.

In Australia electricity produced through your solar panel system is either used instantly in the home, office or business or exported back to the power company. This exported power will earn you a credit based on the feed-in-tariff; the power company are offering.

Massive financial savings and very large and risk-free returns on investment can be achieved by simply buying a large-high-quality system, reducing wasted power use and moving the power use remaining into daylight hours so that it can be supplied by free solar power.

Transcript

How long until my solar panels start saving me money?

So if you look at solar and say does it work does it not work. Very cheap solar a lot of times does not work because the systems will fail before you even get your money back.

You've got to go for high-end quality solutions and with LG you get a twenty-five-year product warranty.

In that case, if you are at home from time to time if you have people using electricity during the day then certainly can give you a good financial benefit and can save you money.

The overall key rules are payback on a high-quality system for about five years.

You will possibly look at the inverter solution again at years 10 & 12 but you will get twenty-five years out of the product warranty, which is from our panel a replacement warranty.

Meaning if there is a problem within twenty-five years with the LG panel we as the largest consumer brand in the solar space will replace it where we even pay the labour, so there's no safer bet.

So the answer is yes solar can save you money. Go to one of our dealers, get it investigated, have a site inspection, see if you're suitable but overall solar by itself works if you go for the quality.

So thank you very much for joining us here at the LG Energy website. We have frequently asked questions and all the answers.

We have beginners guides, videos from dealers and output calculators so you can actually see what happens in your area with the system and how much it will generate so please go onto the website and do your research if you're looking LG is the way to go.

What is the likely payback period on my solar system?

What is the likely payback period on my solar system?

The typical payback period for a well designed quality solar panel system has a typical payback period of around 4-7 years in Australia.

The period can vary depending on your

  • Electricity usage

  • Solar system size

  • Local price of electricity

  • Amount of sunshine on your roof

LG has over 70 LG Energy Specialist Partners. To get an estimate for your property contact us for free advice or an obligation free quote, to show you how quality solar and batteries can save you money.

Calculate how long it will take for a solar system to pay for itself. The calculator also allows you to compare a high quality photovoltaic (PV) solar system with a lower priced system and see the difference in payback time.

What size solar panel system should I install?

Currently a popular size is around 6.6kW of panels with a 5kW inverter. The reason is that in many areas this is the biggest size energy retailers will allow the customer to connect.

The size of your solar PV system will depend on:

  • The physical un-shaded area you have available for the installation of your panels

  • How much you are prepared to spend ($5,000 to $9,000 will get you a decent size solar system) - if it is very cheap, the quality is very unlikely to be great, whatever the sales person says;

  • What portion of your electrical consumption you wish to generate or offset

To work out what size solar panel system you require, you need to analyse your household’s daily electricity consumption.

Your electricity bill shows your household’s electricity consumption in kilowatt hours and your average daily electricity consumption.

From this you can calculate the average amount of electricity your new solar system needs to produce to cover your electricity needs.

Our LG installers can assist you in working out how much benefit a solar system will give to your particular situation.

What size solar panel system should I install?

Why choose LG Solar Panels?

Not all solar panels are built the same. When you purchase solar panels from LG Solar you are investing in a product backed by years of experience and manufactured with the help of stringent research and testing standards.

FAQs

Q. Is my roof suitable to install solar panels?

LG panels fit with many type of roof tiles

The easiest roof to install solar on are metal roofs, either conventional up to 25 degree or flat. Tiled roofs are ok as well as long as the tiles are not too old and fragile. Slate roofs can have solar – but are more difficult and usually cost a bit more.

Asbestos roof installations are not recommended and it would be strongly advisable to change the asbestos tiles or sheets first, before installing the system.

Naturally single storey homes are easier to access than double storey roofs but installers can install systems at most heights.

Also trees close to the roof can cause issues with overshadowing, and with leaves and branches covering the panels and reducing output. Micro inverters nowadays can offer an advantage in overshadow situations as they regulate the output of each panel individually.

So if you have a strong possibility of overshadowing during the year, microinverters and or a solar edge set up can be more advantageous than the conventional solar power string inverter.

We recommend that you get a site inspection and have your professional LG installer to give you feedback on the suitability of your roof.


Q. Are there any rebates available when I purchase a solar system?

Yes there are rebates available on the solar electric power system. These rebates have changed over the years and might continue to change. You should talk to your nearest LG installer to get the updated information or visit the Clean Energy Council website to see if there is any relevant copy about the latest rebate applicable to you.

There is currently one key rebate offered for solar PV systems in Australia. They are the Small-scale Technology Certificates (STCs).

Our authorised LG installers will inform you about the latest level of rebates available. They can advise on how to optimise your incentives and the eligibility requirements but it is generally advisable in line with general consumer advice to double check the relevant rules yourself.


Q. What is the feed-in tariff (FIT) and how does it work?

Many electricity retailers (but not all) have introduced a feed-in tariff. A feed-in tariff pays you for excess electricity generated by your solar PV system, and not used in your home.

Under a net feed-in tariff, a fee is paid for any solar energy that goes back into the grid from your house. So if you are producing more electricity from your solar panels than you are using at that point in time, you get paid for this extra electricity which is sent into the grid. and if you use all of the energy you generate it will be offset against your normal electricity bill.

Under a gross feed-in tariff which are now not offered for new connections, you get paid for every unit of electricity generated by your solar panels, as all electricity generated by your system bypasses your house and is exported to the grid (power lines).

You should check with your electricity retailer about any tariff changes that will occur as a result of installing solar and carefully weigh up the advantages and disadvantages before making a decision of using this particular electricity retailer.

Ask your LG installer about the most solar friendly electricity retailer in your local area and consider changing electricity retailer to get the best feed-in tariff deal.


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