Why should you consider investing more on higher quality solar panels?
Look, there's a funny saying in Australia, "You buy cheap, you buy twice." We are believing, even from an environmental input and outcome, you put a long-lasting solar panel in there, you get the best environmental outcome. We have to be serious now about... The solar is there to help with CO2 abatement. There's no point buying cheap solar that fails and we put in landfill. The irony would be if solar actually contributes to climate change. We don't want that. It makes sense while we're having the rebate now, to buy the best quality system. Because if it lasts you the 25 years that the LG panel warranty has, and you replace the inverter during the life of the system, keep it going, from that perspective, you are making the most financial income.
If you buy a cheaper system and it, let's say, have to be replaced in eight, 10 years time, let's go for middle of the road, there's no bill rebate anymore at this point, the way the government is explaining it, which means, then you have to possibly dip into your pocket and pay as much as you would pay for an LG system now. So, it makes much more sense while the rebate is around to get the best possible system.
If you want to go into solar, I say to people expect at least for a 6.6 kilowatt system, which is good for a family of four up to six, even for a two-person household, it's not bad because you export and then you make that money, I would argue that you look in between eight and a half to about $10,000. The reason why I say $10,000, if you have shade over your house, you do need extra technology in the inverter solution. A string inverter is not always the right thing, you might need optimizers, microinverters. They do cost a little bit more. So, that is the price range, but if you get $1,600 back if you use 60% of the system, you are looking at a five, six year payback. That is a reasonable payback to get a 20 year investment. Where can you spend over the life of the system, 10,000 and you get $40,000 back. That's a good investment.