How much will solar save me?
Everyone knows that solar power is a good thing – it’s good for the environment, it’s good for the resale value of your home, it’s even good for the electricity grid itself (especially in Summer) – but the main reason people install solar panels is simple – they want to save money.
But how many solar panels do you need? What system size is best? How much will solar save me?
Here is a rundown of the most common system sizes for suburban properties, how much energy these systems will produce, and how much money you can expect to save per year.
Electricity consumption and production is measured in “kWh” which stands for “kilowatt-hours”. On average, the typical Adelaide home uses around 20 kWh of energy per day – but houses can range anywhere from 5 – 50 kWh per day.
The saving ranges below are calculated using a cost of energy of 38c per kWh, and a solar buy-back rate of 8c which is what most major retailers are currently paying. The saving ranges are based on consuming between 30% and 70% of the solar you produce over the year, with the remainder being sold back to the grid. So for example, if a system saves you between $500 and $850 per year – the $500 is based on using only 30% of the annual solar power you produce, and the $850 is based on using 70% of the annual solar power you produce.
The more of the available solar power your house can use during the day, the bigger your savings are and the quicker the system will pay for itself!
2.0kW System – 8 panels
Output of 8 kWh per day on average
Up to 14 kWh per day in Summer
Annual savings between $500 and $850
3.0kW System – 12 panels
Output of 12 kWh per day on average
Up to 21 kWh per day in Summer
Annual savings between $750 and $1250
4.0kW System – 16 panels
Output of 16 kWh per day on average
Up to 28 kWh per day in Summer
Annual savings between $950 and $1700
5.0kW System – 20 panels
20 kWh per day on average
Up to 35 kWh per day in Summer
Annual savings between $1200 and $2100
6.0kW System – 24 panels
Output of 24 kWh per day on average
Up to 42 kWh per day in Summer
Annual savings between $1450 and $2500
Most Adelaide homes will get the most benefit from systems in the 2kW – 4kW range. If you have much larger energy usage, system sizes in the 5kW – 6kW range may be appropriate.