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How much should a solar power system cost?

Transcript

In Australia, let's go for residential, you can buy a 6.6 kilowatt system that a lot of people buy nowadays for between three and a half thousand and maybe nine, 10, or even 11,000. The difference is the three and a half thousand systems, within a couple of years, you will wonder who you can call.

It was a very, very large operator in Melbourne. At one stage, it was the largest company in Australia selling a lot of very cheap system. What then happened is they start to fail and a lot of people ring up for the warranty. The mother company was a good company, but they followed down their cheap path.

They had then to invest so much money into fixing that they decided it wasn't worth it and they pulled the plug. So some of the largest players in Australia, which installed a lot of the systems, are now not around anymore. And there's thousands of people without support. So that's the three and a half thousand dollar system.

The beauty about the eight and a half, $9,000 system with an LG for example, is that you are paying it back with most people in about five years, but then you have 20 years of benefits going on. So you buy that when you're 50, you're looking towards retirement saving costs. You look up at that system at 73 and your panels still have warranty. How good is that?

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