Solar energy is the need of the hour to ensure zero emissions and preserve natural resources. This renewable source of energy not only saves you with money on electricity bills but also fetch you twice the bang on your buck by using and storing the previously generated solar energy.
According to a report formulated by the Centre for New Energy Technologies (C4NET) for Solar Victoria, households having solar panels are more likely to save up to an average of $1,073 a year. This value depends on the size and capacity of the solar system you have installed and the amount of energy generated.
If you are already saving money with solar, Solar Victoria is here to boost your savings with additional rebates on storage battery installation anywhere in Victoria. If you get an 11kwH storage battery installed in your home, you are eligible of saving approximately $650 on electricity bills every year.
The estimated number of savings households are generating in Victoria with solar installation is estimated to be around $159 million in total for a year.
Benefits Offered By Solar Homes Program
With the introduction of the Solar Homes Program in 2018, Victorian households have managed to make a positive impact and are estimated to have:
- Reduced the use of electricity from the grid by ~30%.
- Reduced annual electricity bills by an average of $1073 per household.
- Consumed 27% of the solar they generated.
- Providing 38% of the total household electricity use.
- Saved an average of two tonnes of CO2 emissions in a year.
- Reduced CO2 emissions by an additional 5.6 tonnes through export to the grid.
- Exported 10% more electricity than the average capacity.
The estimates listed above are the result of the data studied from households located in the AusNet Services distribution zone. When it comes to solar, savings can be improved if the costs of importing the electricity are reduced for every kWh of solar a household generates and imports to a grid.
The Solar Homes Program introduced by Solar Victoria has, till date, provided more than $270 million in rebates to make solar accessible, drive down the energy costs and tackle the climate change.