The cost-of-living crisis in Australia seems to intensify by the minute. Most Australian states are feeling the pinch of electricity price increases, and there’s no relief in sight. Since 1 July 2023, Electricity rates have increased by 20-30% in South Australia, Victoria, New South Wales, and Queensland. It’s no wonder that many Australians are desperate to find ways to save.
Episode 7, Season 6 of Open Homes Australia presented an incredible home with a huge solar and battery system. While exceptional, this home showcased the possibilities when maximising solar and battery storage. The system, installed by SunEnergy, has been a game-changer for the family – allowing them to effectively live off the grid.
Investing in your home’s future
We’ve spoken many times about Australia’s move toward electrification, and the importance of future-proofing your home. Solar is an essential and vital aspect of moving your home away from the grid and reliance on fossil fuels. Becoming self-sufficient not only reduces your carbon footprint but it allows you to live outside of the ever-increasing costs of running your home.
The stunning Adelaide home called upon SunEnergy to find a solution for their energy woes. Four air-conditioners, along with a pool, and an array of electrical appliances all created high electricity bills. SunEnergy discreetly installed 20kW of solar panels on the roof; hidden away from street view. To allow the homeowners to use part of the 80kWh of energy generated a day at nighttime, SunEnergy installed 2 x 13.5kWh Tesla Powerwall batteries. The 27kWh of battery storage will run the home throughout the night and provide exceptional battery backup during Adelaide’s infamous blackout events.
This home will almost surely operate off-grid most days of the year. This means that no electricity will need to be drawn from the grid. The average Australian home uses 18kWh of electricity every day, so this home is positioned to serve as its own power plant!!
How to afford solar in a troubled economy
I can hear you now, ‘But how can I afford solar at a time like this?’
It’s a fair question and one that many prospective solar customers ask solar retailers across the country. Fortunately, going solar does not have to break the bank. In fact, many solar retailers offer $0 upfront payment plans. Here are just some of the ways that you can begin your solar journey with little to no upfront costs:
- $0 upfront, interest-free finance through your solar retailer
- Power Purchase Agreement (PPA)
- Green Loans
- State-specific loans
$0 upfront, interest-free finance through your solar retailer
Almost all solar retailers have a finance option available. The financing is usually in the form of a $0 upfront loan with no interest charges for the length of the loan. This means that you will be charged a set fee (weekly, fortnightly, monthly, etc) for the term of the loan. These are a popular option and, while they are interest-free, a merchant fee is usually built into the total cost of your system. Finance is subject to lending criteria.
Power Purchase Agreement (PPA)
PPAs have been available for years and are a fantastic option for homeowners looking for hassle-free solar. There is usually no upfront cost involved and you will be guaranteed a regular payment for the system installed on your home. It is important to note that you will not own the system. You are essentially leasing out your roof space for a return. The benefits of a PPA, beyond the ongoing payments, are that the system will be maintained by the retailer whom you have the PPA with.
Powow is a PPA and Virtual Power Plant (VPP) provider that Energy Matters highly recommends. You can read more about their available offers by clicking here.
Green Loans are offered in all states for the purchase and installation of renewable energy technology and products. They are offered by all the major banks, as well as many other lenders. Financing is usually available for loans between $2,000 and $75,000. The benefits of a green loan, compared to a personal loan, are that you can usually pay off the loan faster with no additional fees, and the interest rate is usually lower. It is important to note that the lending criteria for green loans is strict. The item you wish to purchase must meet the lender’s specifications for energy output or efficiency.
Victorians are spoiled for choice with the recent implementation of solar battery loans. Eligible Victorians will be able to apply for a loan to cover up to $8,800 of the cost of a battery installation. Find out more here.
The Australian Capital Territory can also benefit from loans ranging from $2,000 to $15,000. Eligible households can use these zero-interest loans to purchase a range of renewable energy technologies. Find out more here.
Going solar with the right installer
Energy Matters is proud to partner with SunEnergy. Offering a plethora of energy-saving solutions, SunEnergy is a company committed to its customers. They are 100% Australian-owned and operated, with 30-plus years of experience! They’ve installed over 70,000 solar systems in Australia, making them one of the industry’s leading retailers. SunEnergy services SA, WA, VIC, and QLD.
SunEnergy offers their Pay As You Save (PAYS) program which allows their customers to start saving immediately. The $0 upfront financing and fixed repayments provide you with the assurance that your solar will be working to save you money.
Find out how SunEnergy can provide your home or business with an energy-saving solution.
1800 786 765