Latest update: 16/01/2017; October to December 2016 usage figures and final quarter of 2016 bill recalculations.
The difference between this graph and the previous is that this only shows electricity that's been drawn from the grid; electricity we have to pay for.
Solar PV System
In the year since getting solar, our grid usage has reduced by 41%. For the 6 months between October and March it was down 50%. During the three months of official winter it was down only 25%, and so far through Spring grid usage is down nearly 40%. This shows the dramatic difference between winter and summer solar generation potential.
The five quarters of electricity bills since getting the solar PV system have been:
- Quarter 4, 2015: $65
- Quarter 1, 2016: $115
- Quarter 2, 2016: $180
- Quarter 3, 2016: $230
- Quarter 4, 2016: $105
The total bill coming to $695. Without solar panels it would have been around $1,875 so it represents a saving of $1,180 over 15 months (around $940 per year).
The solar PV system cost just under $6,000 (including the installation of a solar-compatible electricity meter). Going by the savings calculation above, it will take seven years to have paid for itself*, and this is with 2016 having had an unusually long, cold, wet, and overcast winter, starting from early Autumn and extending at least halfway through Spring.
In fifteen months the installation of solar panels has saved $1,180, equating to a payback period of seven years.
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* It's a crude metric, but it's the easiest. Other variables such as the varying (read: increasing) cost of power over time and what the investment would be worth had it been actually invested or put into the home loan rather than spent on a solar system may be investigated later.