Solar power systems have become very popular with Australian home owners, with more than one million roof top systems installed across Australia.

Solar enables you to cut the cost of your bills. By generating your own electricity, you’ll be purchasing less from your retailer – meaning money in your pocket rather than theirs! Installing solar will also increase the energy rating and value of your house, and you can feel good knowing you’re doing your bit to help the planet. Installing solar system simply makes sense.

Solar power can save you hundreds or even thousands of dollars on your electricity bill every year. The savings you can achieve from installing a solar power system depends on the size of the system you install on your home.

The Renewable Energy Target works by allowing both large-scale power stations and the owners of small-scale systems to create certificates for every megawatt hour of power they generate. Certificates are then purchased by electricity retailers who sell the electricity to householders and businesses. These electricity retailers also have legal obligations under the Renewable Energy Target to surrender certificates to the Clean Energy Regulator, in percentages set by regulation each year. This creates a market which provides financial incentives to both large-scale renewable energy power stations and the owners of small-scale renewable energy systems.
In the case of small-scale systems, all certificates are provided ‘up front’ for the systems’ expected power generation or displacement over a 12 year period. Generally, householders who purchase these systems assign the right to create their certificates to an agent in return for a lower purchase price. The level of this benefit differs across the country depending on the level of solar radiation.

The survey, carried out across Australia, also positioned solar as top of mind when it came to green living. Solar Power System ranked highly and was seen as adding value.

“Three quarters of renters said they would pay additional rent to live in a property with solar energy, with two out of five saying they’d be willing to pay an extra $50 a week.”

Patel Solar Power recognizing that solar power systems add value to a property, the real estate industry is working to create more sophisticated methods for accurately determining the market value as well as the financial value of properties equipped with solar power systems. Some of the same factors that drive your overall financial returns also drive increases in property values. All of this is great news for property owners with solar PV systems who not only recoup the initial cost of their systems when they sell, but also receive a premium that will increase the returns on their investment.