Inexpensive renewable energy is starting to take over the world! Energy that is produced by upcoming wind and solar projects are cheaper than the old coal-fired power plants. Renewables are already cheaper in many cases and will only get better with time. More and more, we’re seeing technologies advance and grow in scale, which will continue to drive costs down.
With your rising electricity bill and the current cost of living, you simply can’t afford 30 cents for a kilowatt-hour. But with solar power, you might only pay up to six cents per kilowatt-hour. That means more money in your pocket each month which you can use for other necessities! In this blog we will walk you through how solar energy is cheaper than electricity and how NuWay Solar helps you achieve a lower cost of electricity through solar panels.
Is solar cheaper than grid electricity?
Solar power has emerged to be one of the cheapest sources of electricity. Electricity from rooftop solar is now very cheap compared to grid power.
A new report from the IEA (International Energy Agency) indicates that solar has officially become the most affordable way to produce electricity, with costs having fallen significantly since earlier predictions. In the most ideal locations with the best policy support and the best financial channels, IEA says that solar can generate electricity at or below $20/MWh. That is significantly cheaper than coal or gas generation.
The cost of solar systems is at an all-time low.
Australia has become the largest user of solar energy. As of September 2021, nearly 2.96 million solar PV systems were already installed. A typical 6 kW solar power system with batteries can be installed for between $4,000 and $6,000 in most states of Australia. The most efficient solar panel setup may cost anywhere from $7,500 to $10,500.
The sooner you buy, the sooner you save.
While you may be skeptical about whether solar power prices will go down even further, don’t procrastinate. There are a number of fiscal reasons why buying now may be truly worthwhile. The moment your solar system is turned on, electricity from the sun begins to power your home. In fact, every unit of energy converted by your system comes right from the sun – free of cost. Since this process occurs on an invisible level, you may not notice the changes right away, but rest assured that there are big savings to be seen with each passing month. More sunlight means more savings! Taking action today will ensure more money is in your pocket tomorrow.
Maintenance is minimal.
Solar panels are very easy to maintain once they’ve been installed. They consist of no moving parts and therefore require little to no maintenance. The only way you might need to spend money is on the inverter, which is typically replaced after 15 years, whilst the solar panels themselves can last for over 40 years!
Solar power: a clean way to sidestep rising retail energy prices.
Solar energy not only helps with your energy bills, but also protects our environment. For example, solar power saves 100 MtCO2 emissions per year, which is equivalent to three quarters of Australia’s annual carbon dioxide emissions. Solar does it’s part to help combat climate change and slow down global warming without involving any additional harmful gases into the atmosphere that would otherwise pollute your groundwater.
A great time to add solar power.
Australia is an excellent location to set up your solar panel facility. Over 25% of Australian households now own solar panels on their rooftops, making household solar panels extremely popular in the country. The price of solar modules has decreased greatly over the past five years. With this cost savings, it’s also more affordable than ever before for your family to add solar.
NuWay Solar can help with your solar energy needs.
NuWay Solar is a solar panel installation company. It helps residential and commercial premises to have solar panels and reduce their energy bills. Not only does it help you to lower the electricity bills, it assists you in finding the right solar system for you.
So, whenever you need any assistance with your renewable energy source, just fill out this form and our representative will get back to you.
Conclusion
Solar energy is cheaper than ever before. This is a great time to start using solar power with a solar panel installation. It’s both cheap and environmentally friendly. It is cheaper than grid electricity as a solar system enables us to store energy for later use. NuWay solar enables household owners to lower down their power bills. To find out more, visit NuWay Solar