Beware of rising energy costs. Solar power will cover rising energy costs. The long-term trajectory for energy prices is certainly upward. Electricity prices have risen by an average of three per cent per year over the past decade. Eliminating or greatly reducing those costs in the long term would save you a lot of money. You can shield yourself from rising costs by going to solar, and making your monthly bills more manageable. You generate your own electricity with Solar, so it reduces the uncertainty associated with rising and fluctuating energy prices.
Why solar cuts the energy bill
Let's say that energy rates will continue to increase every year by three per cent. The average Australian home spends about $1,411 on energy per year. You will have an additional $1,411 in your wallet a year from now if you buy a device that meets 100 per cent of your energy needs today. When rates go up the next year, you'll save about $1,452. Your savings will continue to rise over the 25 + years your panels produce energy, adding up to well over $30,000 over your system 's lifetime.
And if you don't have the cash to buy a solar power system up front, you can still the energy costs by funding your solar panel system with a solar loan, solar lease or solar purchase agreement (PPA). Most solar financing solutions don't need any money down and raising your monthly installation expenses from day one. Your monthly energy expenses will no longer fluctuate as an additional bonus-they will simply be the monthly amount of your loan or lease payment.