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One factor is new financing models that eliminate the need to pay thousands of dollars up front to install a new solar system. You can get low-rate green loans, sign a power purchase agreement, or even use a Buy-It-Now-Pay-On-Pay facility.
Feed-in tariffs are falling, but with millions of people working from home in the past 18 months due to the pandemic, household usage patterns have also changed, making daytime solar power more valuable than it was not before.
If you are considering purchasing a solar power system, get a range of quotes, pay attention to hardware warranties, and make sure the company doing the quote is accredited by the Clean Energy Council.
Green loans
There are a range of low rate green loans available to help pay for your green shift.
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Commonwealth Bank offers 0.99% home loan clients and other green lenders include Bank Australia and Bendigo Bank.
Some offer discounts on mortgages to customers whose homes achieve a certain efficiency rating.
Give up gasoline too
Electric vehicles always cost more, but with falling solar power prices and gasoline prices reaching record highs last month, the payback time is improving.
The My Electric Car website has a calculator that says you would save about $ 1,500 a year on gasoline if you ditch a mid-size car for a Nissan Leaf electric car. If you can charge it with free solar power during the day, even better.
Dr Saul Griffith and the Australia Institute state that: “If we electrify the two cars of the average household, we install oversized solar panels on their roofs, we electrify their water heaters, electrify the kitchen and electrify all household heating. premises of this household by 2030, we will save [them] $ 5,000 to $ 6,000 per year â€.
Typically, switching providers is about saving money in the short term. But sometimes it’s also about taking a long-term view – for the good of the planet.
- The advice given in this article is general in nature and is not intended to influence readers’ decisions regarding investment or financial products. They should always seek their own professional advice that takes their personal circumstances into account before making financial decisions.
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