Antinuclear

Solar energy brings profits to Cairns

Sun powers hot returns as Cairns takes a shine to solar power for profitable asset CAIRNS is reaping the benefits of tropical sunshine, with annual returns on investment in local solar power more than twice those of most other assets.http://www.cairnspost.com.au/lifestyle/sun-powers-hot-returns-as-cairns-takes-a-shine-to-solar-power-for-profitable-asset/story-fnjpuwet-1226808318516 24 Jan 14 

The city has been revealed as one of the top performers in Australia for giving the best return on solar investment when compared with shares, property, gold, global fixed interest and fine art.

National solar provider Energy Matters recently used consumer feedback to rank each town for solar viability.

Cairns came in fifth on the national list, with a 20.1 per cent investment return per year for almost a quarter (23 per cent) of solar-eligible homes that had invested in the power source as of last March.

Townsville ranked the country’s top solar town with a 21.8 per cent annual return on investment, closely followed by Gladstone (21 per cent), and Brisbane and Mackay (both 20.2 per cent).

The figures took into account each city’s sunshine hours, the cost of a solar system for that region, local electricity rates and the region’s level of government support.

According to the report, returns from solar lie well ahead of the average returns for Australian shares (9.8 per cent), residential investment property (9.5 per cent), global fixed interest (8.5 per cent), fine art investment (8 per cent) and gold (4.1 per cent).

“Australians are constantly looking for the best place to invest their money, yet they’re overlooking one of the best, and it’s right above their head,” said Energy Matters co-founder Nick Brass.

He pointed to the initial outlay costs and consumer confusion around available government support for preventing more people seeking out solar.

Wade Allen, managing director ofNaked Energy, said Cairns’ solar consumers were still on the rise, despite a dip in numbers after July 1 last year when the solar grid feed-in tariff dropped from 44 to 8.

“It’s no longer a ‘plug and play’ situation,” he said. “We’re sizing solar systems perfectly for what people can use … and that’s how we’re able to help them achieve a good return.”

January 24, 2014 - Posted by Christina Macpherson | Queensland, solar