Astro, good idea. We are currently $46 in credit with our electricity company and we only have a 1.5kw system. We are seriously considering adding more panels, but will have to cut down a bothersome palm tree first.
The amount you 'make' will depend on what the feed-in tariff is - ours is set at 47c - versus the off-grid rate - think ours is around 19-20c - and when you use electricity. So if you try to use as little as possible during sunlight hours, those kWh will feed in and you'll get your 47c (or whatever it is) and then you'll pay for the electricity you use at other times at the lower rate.
It's a good idea to look at other energy-saving ideas at the same time.
Also - you'll make a lot more during the sunny months versus winter. when making guesstimates about usage etc, they average it out over the year. so you're way ahead in summy, but behind again in winter.... but ahead overall
Last edited by onthefly; February 6th, 2012 at 09:08 PM.
Is it worth it? If you put an extra $8k on your mortgage over 20 years you would end up paying about $7000 in interest over and above that!
That's $15,000 in savings you need to make back before you break even. Even if you do save $250 per bill - that's 60 bills before you start seeing a return!
Yeah Lenny. We'd never be able to get up $8000 unless we took out another loan, or won lotto LOL. So from our POV definitely not worth it, to be only saving half on bills.
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