Our latest data shows that a larger system has a faster payback than a smaller system regardless of household energy consumption, this is because the prices of solar power systems have dropped by 95% in the past decade.
Choosing the size of your solar system now depends on your budget, roof space, electricity distributor, and preferences. We know this because the main cost is having the first panel installed on the roof and every panel after that is relatively straight forward, while the cost increase for adding those extra panels is lower than the value of solar energy production, so a larger system gives a higher return on investment!
What about batteries?
You don't need to buy a special type of solar systems to be ready for batteries in the future.
Every solar system installed in Australia is compatible with batteries by using an AC coupled battery inverter. You can buy these simply when buying your batteries and installation will be very straightforward. Right now batteries are attractive for areas with unreliable power as they can provide backup when the grid goes down, but backup power is an extra feature that requires rewiring your switchboard and you'll need a lot of batteries to disconnect from the grid.
What about finance?
Most Australians buy solar power systems with cash. If you have cash earning interest in a bank account, then investing in a solar power system is worthwhile. A solar system installation generates a return far higher than bank interest rates, the property market, the stock market, or government bonds, and given that you'll pay electricity bills regardless it's a secure investment. The next best alternative to cash is redrawing on a home loan because of the low-interest rate. Ohm Power has partnered with Bank Australia to offer a 7.89% secured personal loan with no hidden charges, and they've waived the setup cost for our customers for a simple solar finance option.
What about smart meter data?
Your electricity bill only tells you how much energy you use every month or quarter. Smart meter data is a spreadsheet of electricity use every half hour for up to two years., using this data we can find your best financially performing solar investment and significantly increases the accuracy of any estimates.