Solar investment paying dividends – 46.26kWh in a day, imported just 2.9kWh from the grid

Solar investment paying dividends – 46.26kWh in a day, imported just 2.9kWh from the grid

Today was our best day for solar generation yet. Our 6.5kW of solar panels managed to collect a massive 46.26kWh during sunlight hours, which on December 2nd, 2020 ran from 7:30AM until 8PM.

After having the system installed back in February by Kdec, at the tail end of summer, we’re now in a position to experience a full summer’s worth of solar generation and if today’s result is anything to go by, it should be a good one.

Much of the day we were spilling power, as the panels were collecting more power than our inverter (5kW) is capable of. This oversizing of the system is commonplace and often energy retailers have limitations to the amount of energy you can feed back to the grid and ultimately be paid for with your Feed-In Tariff (FiT).

Despite working from home most of the day, our household consumption was just 6.83kWh which meant we drew just 2.97kWh from the grid. This included parts of the day where the air conditioning ran, TV was on, computer and monitor in the office and lighting.

We currently pay $0.3071992 per kWh with Energy Australia, so drawing drawing just 2.97kWh means we’ll pay a massive $0.89 cents. Unfortunately we do cop a service charge of $1.140799 per day, so we’ll see a total of $2.031799 in costs for the day.

Now for the fun bit.

The remaining power of 39.42kWh, was fed back to the grid to be used by other homes. We’re currently on a FiT of $0.12 per kWh which works out to be $4.7304.

So without changing our lifestyle at all, using power how we naturally would, today we made a net profit of $2.698601. As I said, I can’t wait to see what a whole summer looks like, chances are we may make enough during summer, to cover our already reduced Winter bills, meaning we could break even for electricity.

Before solar, we paid around $1,600 per year for electricity. If we can realise a net zero position in 2020/2021, our return on investment for the A$5,000 outlay, could be as little as 3 years. The great thing is, our panels have a 25-year warranty which includes a baseline performance figure, which means financially, we’ll be way in front of the lifetime of the panels.

This makes solar one of the best financial decisions we’ll ever make and a massive thanks to the Victorian Solar Homes Program that really helped accelerate when we could afford the initial investment to reduce our cost of living.

With that background, I’d love to add home battery storage to the system, however, the Solar Battery Rebate excludes those who participated in the Solar Panels rebate – fair enough, we benefited already and other’s should be able to. It’s not clear though how many homes are adding battery storage without solar, or with old, less efficient solar systems.

There are still 1,005 battery rebates remaining in this release, which makes me think there’s an unmet demand there. Right now a Tesla Powerwall 2 battery costs around A$12k installed, which is out of reach for most. That price

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