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HOW SOLAR PANELS WORK
5 Reasons of Installing Solar Photovoltaics (PV) In Canberra
1. Natural and Social Environment
The clear weather in Canberra provides excellent natural conditions for solar power generation. According to the historical records provided by Australian Bureau of Meteorology, Canberra has an annual average daily sunshine between 7-8 hours, which equals to approximately 5 hours of full solar irradiance a day. As a result, Canberra is one of the best locations in Australia for solar PV system installation 20% of the houses in Canberra have already installed the roof-solar system. Rooftop solar PV system for homes and businesses is growing at a faster rate (104.4%) than anywhere else in Australia. Green Energy Trading indicates that in 2018 there have been 3333 solar PV systems registered in ACT, compared to 1666 in 2017.
2. Government Incentives
The ACT government highly supports and encourages the development of clean and sustainable energy and legislates ambitious targets introduced in 2010, including achieving zero net emissions by 2050. For example, the Solar for Low Income Households program offers eligible ACT households a rebate of up to 60% on the cost to supply and installation of a rooftop solar PV system.
3. Small Scale Technology Certificates (STC )
One of the most significant up-front incentives introduced by Federal Government is known as the Small Scale Technology Certificates (STCs). Utility companies are obligated to purchase STCs in order to achieve the renewable energy target. A large portion of the system and installation cost can be discounted by STCs – the solar PV installation company will deduct it from the quote and there is no need for the customers to claim it.
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4. Electricity Buyback
A solar PV system is just like your own personal mini power station. You can use your own electricity generated from your home solar PV system instead of purchasing it from the electricity grid. Moreover, if your grid-connected solar PV system generates electricity that is beyond your consumption, the excessive energy can feed back to the grid and the electricity retailer will pay for it via offsetting your electricity bills. Although ACT Government offers no feed-in tariff for excessive electricity exported back to grid by the solar PV system, the current electricity retailers in Canberra do still offer buybacks. According to Solar Choice, the rate is ranging from 8c/kWh to 17 for the electricity exported, depending on the retailer.
5. Appreciation in Property Value
According to one of the Australian’s leading energy retailer, Momentum energy, solar power is viewed very positively by most of the Australian public, which can be a unique selling proposition for the home. Studies show that having a solar PV system installed on the house can increase property value by almost $6,000 per kilowatt of the installed system. That is over $29,000 rise in the retail value of the home for a typical 5kW solar PV system.