Improving energy efficiency has been a primary concern for every Australian household today especially with the uncontrollable energy price hikes which will continue over the next couple of years and climate change issues.
Solar power remained as the best green investment for households and businesses despite numerous energy efficient units in the market today. The high yield, low risk investment in solar power makes it the best green retrofit today. A recent study conducted in the United States revealed that solar power has the best return of investment period among renewable energy making it a suitable choice for every green power enthusiast and people seeking freedom from carbon emissions and high electricity prices.
Home and small business investment on solar power falls into two categories, the solar PV systems and solar hot water systems. Before PVs have an average payback time of 7 to 10 years but as price plunges continuously it has been reduced to 5 to 7 years and even less than 5 years in some regions of the country. Solar PV systems can be scaled down depending on your home or business needs ensuring continues supply of energy and with a grid connect capability you can export surplus electricity to the state grid under the Feed in Tariff scheme of your local government.
Solar hot water is the cheapest form of renewable energy that packs big savings, it can save you up to 70% or an average of $400 on your water heating cost every year. Prices of solar hot water has also been reduced significantly especially with a strong rebate program of the government.
By decentralising energy generation and creating virtual power stations in every way we can Australia can significantly decrease its carbon emissions and achieve its renewable energy targets.
Decentralisation is also seen as the key to eliminate extra expenditure on energy transmission and constant grid maintenance and upgrade which accounts for a huge portion on today’s electricity bills.
Soon, energy produced from solar power will be cheaper and more reliable than energy produced from coal. In fact a number of regions in Australia have already reached grid parity and nationally we are edging towards it.
Other energy efficient retrofits can also be considered like utilising passive solar power, using energy efficient light bulbs, switching to LED monitors and improving ventilation and HVAC systems but all of which are supportive measures and ultimately solar power systems still offer the greatest benefits for a long period.
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