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Are you wondering how to save money on your electricity bills with solar power? My Solar Quotes is here to help you make informed decisions and understand the potential savings solar power can offer.
One of the primary reasons New Zealanders are turning to solar power is its incredible ability to significantly reduce electricity bills.
While switching electricity providers can provide some savings, the a much more meaningful impact comes from transitioning to solar power, reducing your dependence on the grid and potentially cutting your electricity consumption by 50%, 75%, or even more. This could result in saving hundreds, if not thousands of dollars on your electricity bills annually.
What's even more impressive is that these savings will continue to benefit you for decades to come. Solar power installations involve a one-time upfront cost, whereas purchasing electricity from a retailer will subject you to potential price hikes.
When electricity prices from retailers increase, your savings will grow in tandem. For instance, if you manage to reduce your power bill by $1,000 this year, next year, your savings will amount to $1,030, aassuming the standard 3% rise in electricity prices each year.
The amount of money you can save by going solar varies widely and depends on several factors, including:
Location: Solar savings are influenced by your geographical location, with sunnier regions offering greater savings potential.
Solar System Size: The size of your solar panel system plays a significant role in determining savings. A larger system can generate more electricity and potentially cover a higher percentage of your energy needs.
Energy Consumption: Adjusting your energy consumption patterns can lead to larger savings. This concept is known as solar self-consumption.
Electricity Rates: High electricity rates can result in more substantial savings. For example the average price for electricity in Kerikeri is $0.42, which is very high, but introducing a solar power system on a house in Northland leads to more savings.
Financing and Installation Costs: The method you choose for financing your solar panel system can impact your savings.Leasing or purchasing through loans may have different financial outcomes.
Taking all these factors into account, plus more, we created a solar savings calculator. Find out how much you can save here.
Want to see how much other Kiwis are saving with solar? Click here to view real-world case studies.
Below is an example of how much savings a home in Wellington could generate over 25 years.
Determining your exact savings can be challenging due to the numerous variables involved.
That's why we've created a solar calculator that considers all these factors, providing you with the most accurate solar generation and savings estimate available in New Zealand.
It takes just a few minutes to complete, and the potential savings could be more significant than you imagine.
A well-maintained solar power system can last for 25 years or more. The lifespan depends on factors such as component quality, installation, and maintenance. We work exclusively with SEANZ approved solar companies to ensure you receive top-quality service and products.
It's worth noting that while solar panels typically have a 25-year warranty, inverters may need replacement during this period. Inverters usually have a 10 to 15-year warranty, and the replacement cost should be factored into your savings calculations.
When you install a solar power system, you are essentially locking in a portion of your energy costs upfront. Solar systems typically have a one-time installation cost, and after that, your main expenses are related to system maintenance, which is relatively low. This contrasts with traditional grid electricity, where rates can fluctuate and increase over time due to various factors, including fuel price fluctuations, infrastructure upgrades, inflation.
Solar power can help homeowners and businesses mitigate the impact of escalating energy prices and enjoy more predictable and controlled energy expenses over the long term.
It is possible for a solar power system to eliminate power bills completely, but that would mean you’d beed to install an off-grid system.
But off-grid solar power systems are usually installed on home that a rural and don’t have access to grid electricity. They are a large up from cost, typically around $50,000 to $80,000, as they are oversized to make sure there is enough power for the coldest darkest days of winter.
A solar power system can easily reduce you power bill from 50% to 80%, depending on a few factors:
Energy Consumption Patterns: Your energy consumption patterns may not align perfectly with your solar production. For example, you may generate excess electricity during the day when you're not at home, and you'll need to rely on the grid during the evening when you're using more power.
System Size: Any solar power system size can be installed on a home, mainly limited by the size of the roof. A smaller solar power system might only reduce your power bill by a small amount, vise versa for a large system.
Fixed Costs: Even if you generate most of your electricity from solar, you may still have to pay the fixed cost of the lines company fee, which may not be entirely offset by your solar production.
While solar power may not completely eliminate your power bills, it can significantly reduce them, offering substantial savings, stability, and long-term benefits. To explore your solar power options and potential savings, check out our solar savings calculator or get 3 free no-obligation quotes from solar companies in your area.
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