Solar Panels...is it worth it??

[Guest Guest5035]

Over the past few months i see every man and his dog selling Solar Panels for many different prices, a guy at work has just spent $18k after rebates on his system, he also said theres lots of cowboys out there after having many quotes.

The average price i see advertised is around the $4k+ after rebates, now as my electric bills on AVERAGE every quarter are only $250 i don't think its worth it, or am i missing something here?

 

stevo

[Guest Guest75]

If your system puts back into the grid I reckon you'd make money from what I've seen on here.

 

I'm no expert on this subject though

[Guest Tina]

we had it installed back in november.. we only had the 1.5kw system cost 3k so the basic one.. our bills are really cheap anyway at only $160 max per quarter(based on 3yrs history) but we thought if the electricity goes up like they keep saying then we would benefit in the end, and so far our first bill came in at a $72 bill after having solar for one month of that bill and then the next quarter came in at $100 credit.

[stringfellows]

Everyone seems to have their own reason for doing it.Some people do it to add value to their home,some do it reduce or eliminate their bills if they have large ones, and then the majority of people seem to do it because the you pay about 22cents a unit for electric off your supplier but you can sell it back to the grid for 54cents per unit.So if you are out all day and don't use up what you have generated it builds up and when you get your quarterly bill you end up in credit.Someone on here the other day ended up being 1k in credit!

[Guest Guest5035]

The other thing i forgot about was warranties on the panels and thingy box, how long are they??

 

Stevo

[Guest niliclan888]

It's the same with most things, it depends on what you use, how much you are willing to spend and why you are doing it?

 

The more costly the system usually means the more powerful, so altho it is an expense initially it is very likely to save an awful lot of money moving forward.

 

There are many T,D & H's these days saying they are specialists in Solar system installations and this came about based on the government rebate & the interest of the public (again like most things, where there is an interest there will be people trying to make money !). Most of the longer term, bigger firms will be mending a lot of problems moving forward, so be careful.

 

One company that has a very good reputation though, that you may be interested at looking at is www.solarquotes.com.au

 

This website (not mine by the way !!) is run by a very keen Solar enthusiast, whom did a lot of research on Solar systems and companies, and has linked with 3 seperate (and very well respected in the industry) companies to provide seperate quotes based on information that you supply. He is not a solar installer himself.

 

One of the other great things re this site is that you also get the opportunity to discus finance options with an independent mortgage broker, to see whether you are actually able to save money prior to making an investment in solar, and in some cases also allowing a bigger system to be installed at no extra cost. Very much a win win, and as a previous client, I can say that this works very well.

 

It's a kind of one stop shop for most people, on solar quotes and possible finance savings, so good luck if you have a peek.

 

That's my 2c, so good luck with it all.

 

Cheers,

 

Jay

[csobrien1966]

We have just received our 1st electric bill with our solar panels.

 

Our average bill previously was approx $650.

 

Now our 1st bill with solar $1110.20 in credit!!!!!!!!!!!

 

[wizzywozza]

Don't forget you will have to pay income tax on your credits ..... you have to take that into account as well Steve.

[Guest Guest5035]

We have just received our 1st electric bill with our solar panels.

 

Our average bill previously was approx $650.

 

Now our 1st bill with solar $1110.20 in credit!!!!!!!!!!!

 

how many panels have you got and thingy box, if you don't mind me asking what did you pay, and who with? Also your warranty on panels and box. interested to see what the payback time is, so with your last bills $650 vs $1110 you are for one quarter $460 in front.

 

stevo

[Guest Guest5035]

Don't forget you will have to pay income tax on your credits ..... you have to take that into account as well Steve.

 

thanks wizzy didn't know that

 

stevo

[csobrien1966]

how many panels have you got and thingy box, if you don't mind me asking what did you pay, and who with? Also your warranty on panels and box. interested to see what the payback time is, so with your last bills $650 vs $1110 you are for one quarter $460 in front.

 

stevo

 

The system was $11,000

 

here is some info Stevo

 

http://www.gottagettagroup.com.au/Solar%20Presentation%202.pdf

 

hope this helps

 

Our last bill with origin was approx $650

 

we moved to AGL when the input output meter was fitted and this quarters bill

was $1110.20 in credit.

AGL will send out your credit in a cheque.

 

As for paying tax?

 

So, is solar power income taxable?

 

As the ATO spokesperson said, and as has been reported on numerous industry web sites, the income derived from a small solar system installed on an owner-occupied residential dwelling is generally not taxable. I have to cover myself, though, and state that this is not tax advice and you need to obtain your own advice based on your unique situation from your accountant or tax agent.

 

It sounds like people installing large systems with the intention of making money will be required to pay tax on the income, though. This also means they’ll be able to claim depreciation on the asset and the costs of maintaining their system, just like any other income-producing asset. With rising electricity prices and falling solar panel prices, these systems can be a good investment.

One interesting aspect of the income from solar power systems is that it is counted as income for social security purposes (see section titled “Feed in tariff income and social security”).

 

 

I also found this:

 

http://www.ato.gov.au/rba/content.aspx?doc=/rba/content/88668.htm

 

Thanks Chris

[Moosh]

Thanks for posting that link above. Very handy to know. At we know we don't have to pay tax on it.

[ian mc]

I would give it about 3-5 years and the dogs droppings is going to hit the fan. A lot of the panels that are gettig installed are just made up of cheep parts from china will work ok for a few years and then the amount of power they are creating will get less and less over the years till they fail alltogether. As for 25 year garantee how many of these companys will be about in 2-3 years??never mind 25 years.

[Diane]

LOL Ian - sorry I can't resist! - you are such a little ray of sunshine aren't you!!!??!!

 

(Not meant to offend, just made me smile everyone being all positive then you come in with what are probably very relevant points!)

[The Flinns]

It's the same with most things, it depends on what you use, how much you are willing to spend and why you are doing it?

 

The more costly the system usually means the more powerful, so altho it is an expense initially it is very likely to save an awful lot of money moving forward.

 

There are many T,D & H's these days saying they are specialists in Solar system installations and this came about based on the government rebate & the interest of the public (again like most things, where there is an interest there will be people trying to make money !). Most of the longer term, bigger firms will be mending a lot of problems moving forward, so be careful.

 

One company that has a very good reputation though, that you may be interested at looking at is www.solarquotes.com.au

 

This website (not mine by the way !!) is run by a very keen Solar enthusiast, whom did a lot of research on Solar systems and companies, and has linked with 3 seperate (and very well respected in the industry) companies to provide seperate quotes based on information that you supply. He is not a solar installer himself.

 

One of the other great things re this site is that you also get the opportunity to discus finance options with an independent mortgage broker, to see whether you are actually able to save money prior to making an investment in solar, and in some cases also allowing a bigger system to be installed at no extra cost. Very much a win win, and as a previous client, I can say that this works very well.

 

It's a kind of one stop shop for most people, on solar quotes and possible finance savings, so good luck if you have a peek.

 

That's my 2c, so good luck with it all.

 

Cheers,

 

Jay

 

Yes it is a great site and extremely informative and even better......................

.......I'm the independent mortgage broker that Finn recommends to talk to

 

So if anyone in PIA land is motivated by the great independent testimonies above, of the huge savings and benefits that they are receiving, then please give me a call.

 

Kind Regards,

[ian mc]

LOL Ian - sorry I can't resist! - you are such a little ray of sunshine aren't you!!!??!!

 

(Not meant to offend, just made me smile everyone being all positive then you come in with what are probably very relevant points!)

 

I spoke to a couple of sparks I know who have jumped on it as instalers to make a fast buck while the going is good and they have said the panels are cheep and nasty. It will end up like the Insulation fiasco that was going on a couple of years ago.

[Guest niliclan888]

I guess the part I mentioned re the real companies being worried about the T,D & H's and being careful is right then?

 

Altho that doesn't mean everyone is bad does it?

 

You can get dodgy hair & spray tanners I guess !

[The Flinns]

I spoke to a couple of sparks I know who have jumped on it as instalers to make a fast buck while the going is good and they have said the panels are cheep and nasty. It will end up like the Insulation fiasco that was going on a couple of years ago.

 

I know that the reputable solar companies would prefer that the govt rebate didn't exist as it would weed out all the sharks who are only in it to make a 'fast buck'.

 

Invariably, the reputable companies buy quality panels from Germany and the sharks buy cheap tat from China. As the saying goes, 'you get what you pay for'.

[Guest lastboyscout]

Now looking at it from my perspective (private renter) I`m looking forward to the time when alot of people have solar and are selling it back to the grid, as we know about everything, it is demand that determines the price of anything, so if there are loads of people getting free electric and sending shed loads back to the grid , then the consumer who hasn`t got solar will get cheaper electric...... am i correct????

 

If I am , then carry on people.

 

 

Also , after speaking to many sparkys about this, apparently the solar panels they put up are just like brand new computers you purchase from a shop, as soon as you get them home they become `out of date`. Just something else to ponder !!!!

[Guest garlic--bread]

Hi, if you just to save money on your hot water heating bills (not free electricity) without a big outlay I found this:

 

 

The water temp does seem to get very hot though.

 

Hope this helps

[The Flinns]

Now looking at it from my perspective (private renter) I`m looking forward to the time when alot of people have solar and are selling it back to the grid, as we know about everything, it is demand that determines the price of anything, so if there are loads of people getting free electric and sending shed loads back to the grid , then the consumer who hasn`t got solar will get cheaper electric...... am i correct????

 

If I am , then carry on people.

 

 

Also , after speaking to many sparkys about this, apparently the solar panels they put up are just like brand new computers you purchase from a shop, as soon as you get them home they become `out of date`. Just something else to ponder !!!!

 

Don't believe that's true mate. Otherwise the genuine solar boys (that includes Origin, AGL etc.) wouldn't be offering 25 year warranties. Besides it's not new technology, chrystalline silicon has been around since the 1950's and monochrystalline silicon cells (the type the best solar companies use) have been around for over 30 years. It's only started taking off in a massive way since the introduction of the govt incentives and REC's (renewable energy certificates) were introduced.

 

There is also the worldwide green debate to consider also which has made people more aware of greener energy alternatives and so further fueled the publics desire for solar.

[sueoc]

So,who would be the Top Five to go to for Installation quotes(The very best with reputations to match?)Thanks.

[The Flinns]

So,who would be the Top Five to go to for Installation quotes(The very best with reputations to match?)Thanks.

 

As mentioned and recommended earlier by niliclan888 you should try this independent solar sourcing website: http://www.solarquotes.com.au/installer-reviews.html

 

As declared earlier, I am the sites recommended independent finance broker, but have no affiliation or shares in the above site or company. (I guess I do a good job and so get recommended)

[Diane]

So,who would be the Top Five to go to for Installation quotes(The very best with reputations to match?)Thanks.

Whoever you choose, it is so worthwhile to do your research - a good way is to just Google the company name and then you get links to all kinds of forums (forii?) with good and bad reports.

 

There are a few nightmare stories out there, I'm afraid

[Guest lastboyscout]

Don't believe that's true mate. Otherwise the genuine solar boys (that includes Origin, AGL etc.) wouldn't be offering 25 year warranties. Besides it's not new technology, chrystalline silicon has been around since the 1950's and monochrystalline silicon cells (the type the best solar companies use) have been around for over 30 years. It's only started taking off in a massive way since the introduction of the govt incentives and REC's (renewable energy certificates) were introduced.

 

There is also the worldwide green debate to consider also which has made people more aware of greener energy alternatives and so further fueled the publics desire for solar.

 

 

But can you answer my first question about demand dictating the price??? If everyone goes for solar energy and is feeding all this excess power back , therefore the people that don`t will be lapping up all this free energy that is being fed back to the grid. Power companies will be clambering for customers (the non solar power paupers we`ll call them ) ) and will be offering all this spare electric for nothing basically???

 

Does that sound daft ???