1. As technology improves, solar panels will become cheaper, so I should wait to buy mine
While in recent years, there have been technological improvements in the industry, the current solar panel technology is well established. Since the first solar panel was produced in 1960, maximum efficiencies in production have been met. The main driver of cost price reduction has been the result of demand and competitive pricing pressures which currently at its peak. So, now is the best time to invest and install your panels!
2. Solar panels aren’t worth the money
Solar panels are definitely worth your money providing you with a great return on investment.
Firstly, solar panels increase the overall value of your home. It is estimated that retail value increases by $6,000 per kilowatt of polar power produced. For your typical 5kW system, that’s a value increase of $30,000. Considering it can cost as little as $5,500 to install a solar system, that’s a pretty good return on investment.
Secondly, the Australian Government encourages solar energy production and provides rebates for households who install panels. These rebates, called Small Technology Certificates, save you $650 per kW installed. Again, for your typical 5kW system, that’s a saving of $3,250.
Thirdly, solar power significantly reduces your electricity bill (if not eliminates them completely). Plus, households can receive a payback or ‘solar feed-in tariffs (FIT)’ from electricity retailers if they produce surplus energy and send back into the grid.
3. Solar panels will not generate power in cold or overcast weather
Solar power is generated from the sun, making sunnier conditions the most ideal for solar power generation. However, energy can also be produced during cold weather as solar panels generate electricity from UV rays, not heat. Because of this, panels are not as efficient during overcast days, but still generate plenty of energy. But, handy tip, most Aussies use substantially less energy in winter anyway.
4. Solar panels cause roof damage
If installed properly, solar panels will not damage your roof. In fact, solar panels are usually not attached directly to a house’s roof but are mounted into a railing system. In some cases, solar panels may extend the life of your roof, as the panels protect it from the weather.
5. Solar power systems require constant maintenance
Although the installation process in quite extensive, once installed, solar power systems require very low upkeep and are essentially maintenance free. Just like any piece of electrical equipment, some parts may need replacing or repairing from time to time.
However, the majority of these parts come with extensive manufacturing warranties. For example, inverters, which convert solar energy to electricity, usually come with a 5-10 year warranty.
6. The solar panel manufacturing process is environmentally unfriendly
The manufacturing process of solar panel does produce a small amount of chemical waste and landfill. However, despite the initial negative environmental impacts, in terms of environmental friendliness, solar power production far exceeds energy production from fossil fuels. Solar power produces 95% less carbon emissions and requires 99% less water than coal power. Installing solar panels also reduces Australia’s reliance on fossil fuels, a commodity that is finite, replacing it with the infinitely generous sunshine.
If you would like to know more about installing a solar power system in your home, click here or feel free to contact us at your convenience.