Solar panels have gotten cheaper and better. More Australian families are adopting the technology. It is helping them save energy costs and give back to the environment. In 2018 alone, around 2 million households had a solar panel system installed.
One of the best options in the market is a Sunpower solar panel. They are very efficient, durable, and eco-friendly. You can use them to power your home without any worries. You can even store and sell excess energy to further reduce costs.
To make the best of your investment, you should budget your project well. Taking the time to figure out the upfront and long-term costs of Sunpower Solar Panels is a crucial step. Another step is to figure out the potential returns and the buyback period.
It can get difficult to figure these out on your own. Don’t worry, we got you covered. We’ll lay down the basics and the essentials when deciding on a budget for Sunpower Solar panels. Thus, you can rest easy that your money is well spent.
1) Determine your energy consumption:
The number of Sunpower solar panel you buy will depend on how much energy you need. How many appliances do you have? Do you use more than one heating appliance? For how long does air conditioning operate? These are essential questions that you should answer.
Beyond the energy requirements of appliances, you should look into your habits. If you consume a lot of energy, you might need more Sunpower Solar panels. But if you’re looking to power a fraction of your home, going with fewer is smart. The more Sunpower panels you buy, the more you have to pay.
2) Analyse your house and outdoor space:
Remember: space is crucial. Even if you have money to splurge, Sunpower Solar Panel still need ample space to operate. The position of your rooftops and outdoor spaces are also important. If they receive plenty of sunlight, then they are great. But if there’s a lot of shade, you might want to reconsider.
Sunpower Solar Panels are great at minimising the harms of shading. They feature highly efficient monocrystalline technology that can generate more power. Thus, you can circumvent poor positioning with these panels. But it’s still best to optimise. You should decide how many panels go into your solar array. The number of panels is a huge part of your total system costs. You should also determine the costs of installation and other components.
3) Figure out the costs of essential components and installation:
Of course, you’re not buying only Sunpower Solar Panels. You need some components to use them to their fullest potential. Proper wiring is essential for good energy flow. High-quality mounting structures are also a great investment.
Note that Sunpower Solar panels produce DC electricity. They take photons from the sun to displace electrons. Those electrons flow to the positive and negative electrodes. Thus, a direct current (DC) is set up. To use this electricity with the grid, you need an inverter. An inverter will convert DC into an alternating current (AC) that most grids use. The inverter also doubles as a monitoring system and a fail-safe. Buying a good inverter is crucial. But they will cost more.
The final upfront cost to consider is the installation costs. For Sunpower solar panels, a certified professional will work wonders. They can analyse your requirements and ensure the process goes smoothly. Usually, solar companies offer packages that include all the components you need. You should factor in the costs of each package you’ll get. This will ensure you get the best one for you.
4) Estimate maintenance costs and financial benefits:
The Australian government has a solar tax exemption model. With it, you can deduct 26% of the project costs from your income tax requirements. Many families have opted for Sunpower solar panels thanks to this option. It’s an added financial incentive that you should avail.
If you hook up your solar array with a battery, you can store energy. The Tesla Powerwall is a great option. You can sell this power back to the grid for monetary benefits. You can also get certificates that you can turn in for more money. How much you get depends on the energy produced and the rates set by your utility company.
Such a large investment begs proper maintenance. If your Sunpower solar panels are not maintained well, then it’s a bad investment. You should estimate the costs of making repairs and factor them in. Luckily, Sunpower solar panels are durable and long-lasting. They come with a 25-year guarantee – well beyond the buyback period.
5) Calculate the buyback period:
The buyback period is the time it takes for you to get back your initial investment. It is the single most important factor in determining consumer choice. We know you want a positive Return-On-Investment (ROI). That’s why calculating the buyback period is important.
To start, you should take the estimated benefits. These include cost savings, money from energy sales, tax exemptions, and solar credit. You should calculate the upfront costs and costs of maintenance. Then, divide up the total costs with the value of the estimated benefits. The number you’ll get is the estimated time it’ll take for you to make even. After that, all you earn will be free money.
Sunpower solar panels have a smaller buyback period than competitors. This is thanks to their great efficiency that lasts for a long time. You can expect to make even in far less time and reap the benefits afterward.
Conclusion:
Sunpower solar panels may cost more upfront. But they offer amazing benefits. They’ll generate more power and last you a long time. These panels are your best friend if you are looking to go off the grid. Thus, to make the best of your money, laying out a good budget is important. With these tips and tricks, you will be making the best decision for your household. With great savings and a reduced buyback period, you’ll be generating profit in no time. All while using clean energy and helping the environment. It’s a win-win for everyone.