More than 1 in 3 Queensland homes now have solar roof panels to help reduce their electricity costs. If you’re considering solar panels for your Greater Springfield home or investment property, read on to find out everything you need to know.
The advantages of solar roof panels
Solar roof panels have their pros and cons. Let’s look at the advantages first:
- They save you money on your power bill by converting sunlight into energy that you use instead. Energy prices have increased significantly in recent years, and they are forecast to continue rising. Average electricity savings of homes with solar panels are up to $1,100 per year.
- You can export any surplus energy that your solar panels generate to the power grid to further offset your electricity costs. Different energy providers offer different rates for this energy, so it’s best to shop around and compare to find the best feed-in rate.
- Solar panels can add value to your Greater Springfield home or investment property if you’re looking to sell.
- They can make your investment property more attractive to potential tenants due to lower energy bills.
- Solar panels reduce your greenhouse gas emissions, which is better for the environment.
- Solar power systems with battery storage can provide back-up power during blackouts.
- The federal government’s Small-scale Renewable Energy Scheme rebate is available for eligible applicants.
- The federal government has promised to roll out a Cheaper Home Batteries Program to encourage the uptake of solar power storage. It is estimated that this program will reduce the cost of solar battery installation in homes by 30%, saving about $4000.
The disadvantages of solar roof panels
On the flip side:
- There is an upfront solar panel system purchase and installation cost, unless you take out a loan (which will result in a higher cost overall). The cost of solar panel system purchase and installation depends on a range of factors. They include the size of your home, your energy requirements, the quality of the system, labour installation costs, whether it includes battery storage, and whether you qualify for any government rebates. $10,000 to $15,000 is a rough guide for solar power purchase and installation costs, excluding batteries.
- Some low cost systems may also be low quality. Do your research before you buy to find an approved solar retailer. Look for warranties from approved, established and reputable suppliers to avoid buying a system that won’t last long.
- If they are not installed correctly, solar roof panels can be a safety risk and can also void your home insurance. Make sure you use a licensed and experienced solar panel installer.
- Solar power can be an intermittent energy source if your system doesn’t have battery storage.
- Solar roof panels require significant roof space with access to direct sunlight, so if your Greater Springfield home or investment property doesn’t have that, they may not be a great option.
- A solar system powers electrical appliances only, so if you use gas for your hot water or cooking, it won’t reduce those costs.
- The manufacture of solar panels has some environmental impact (though not as much as the ongoing use of fossil fuels, and they can be recycled).
- You can’t take solar panels with you if you decide to sell.
Solar roof panel FAQs
How long does it take for you to recoup the cost of a solar power system and its installation?
This depends on the initial cost of your system as well as its solar power generation capacity. You need a rooftop that’s fully exposed to sunlight for as long as possible to get the best results in terms of both power savings and exports back to the grid.
How long do solar panels last?
Most solar panel systems have a 10-year product warranty and a 25-year performance warranty. You should keep your panels clean to ensure optimal performance.
About us
If you are looking to buy, sell or rent a Greater Springfield home, or you would like your Greater Springfield rental property professionally managed, then contact our experienced local real estate team at Purple Cow.
We’d be happy to answer any real estate questions you have and provide you with advice.
