Power Prices Could Rise by up to 50 percent
When you install a grid-connected solar power system, you are effectively paying for your next 30 years of electricity at today's prices. With current government incentives, such a system will generate power at around 10 cents per unit over the life of the PV array - estimated to be in excess of 30 years.
On the ABC's 7.30 Report on June 4th, 2007, Greg Houston of NERA Economic Consulting predicted that electricity prices would need to rise by "as much as 50%" if carbon trading is introduced. That would take the price of a unit of electricity to over 19 cents. Even if they rose by just 3% a year, the retail price of a unit of power will be around 30 cents a unit in 30 years time. So buying power from the grid is going to cost you much more.
On the other side of the coin, both the South Australian and ACT governments have introduced a solar power buyback tariff which is around three times higher than the price consumers pay for their power. This means that anyone selling power into the grid receives much more for the power they sell than they pay for the power they buy. The other states are expected to follow suit over the next few years. Based on rising power prices and a higher buyback tariff, a solar power system could pay for itself in around five years – giving you about 25 years of totally free power from the sun!
Now is a great time to invest in your future and the future of the planet by installing a clean power source that produces electricity when it's needed most - during the hot Australian summer days when industry is in full swing and air-conditioners are working overtime.
To find out more, see Solar Power or contact your nearest SolarCo dealer for an obligation-free quote.