Solar energy a good financial deal for Australian homes

Double quick time for solar returns, The Border Mail, 22 Feb 12, Solar power systems are offering a return on investment in half the time it took a decade ago, according to an industry leader. Eco-Kinetics general manager South Australia, Mark Hofner, said solar power investments today would pay for themselves in about five years.

“A return on investment a decade ago would have taken 10 years,” Mr Hofner said. “Today it is around half the time; even a little 1.5 kilowatt system is under three-and-a-half years for a return. Solar is a good deal.”

Mr Hofner said solar systems had a typical lifespan of more than 25
years and represented an excellent investment to save on future
electricity bills and improve the value of your home.

“With electricity prices going up, solar energy puts a lot more money
in your pocket,” he said. “If you get the right size system, it will
cover your bill.

“The price of buying the products has also gone down recently.”……

Mr Hofner said solar energy was a clean, green, renewable energy
source that helped reduce Australia’s greenhouse gas emissions.

“The Federal government’s Renewable Energy Target scheme is designed
to ensure that 20 per cent of Australia’s electricity comes from
renewable sources by 2020,” he added. The new Renewable Energy Target
(RET) laws include the Solar Credits Scheme to boost support to
Australian households and businesses installing small scale solar
systems. It provides an upfront capital subsidy to the householder.

Solar credits are still available for eligible systems and no means
test applies. http://www.bordermail.com.au/news/features/articles/environment/double-quick-time-for-solar-returns/2464075.aspx