How much you save with solar power
depends on when you use it.
Installing a solar power system allows you to produce your own power. Therefore you only need to buy supplementary grid electricity from your retailer, whilst also sell any excess power you produce back to your retailer.
You will save the most when you are using more power at the times your solar power system is producing it - while the sun is shining.
It’s important to remember that your bill from the retailer consists of two charges
In most cases it will be Synergy charging you for the A1 Home Plan Tariff with the charges consisting of:
- Supply charges = 101.5493 cents per day. This is made up of fixed costs to supply electricity to you such as the cost of the poles and wires connected to your home.
- Consumption charges = 28.3272 cents per unit. This is made up of non-fixed costs to supply electricity to you such as the cost of producing electricity by the power station.
The savings you get from using solar power come from a reduction in consumption charges. Further savings can be received when you sell excess power back to your retailer.
Potential consumption savings
Calculate my savings
- As a higher user, you could be using on average 18 units of power per day, of which you use 10 units per day during the time your solar power system is producing power.
- Instead of buying 18 units of power from your retailer, you would only need to buy 8 units of power from your retailer and will save on 10 units of power produced by your solar power system.
- That means you may save about $2.80 per day or about $168 per bill cycle or about $1,022 per year.
Potential credits from selling excess power
- You may use on average 18 units of power per day, of which you use 10 units per day during the time your solar power system is producing power, however your solar power system may produce 13 units per day.
- Those additional 3 units per day produced that are not used by you, can then be sold back to your retailer for 7.1350 cents per unit.
- That means you will further save about $0.21 per day or about $12.60 per bill cycle or about $76 per year.
Extra savings through solar batteries
- Additional savings can be had if you install a solar battery system to store any excess power you produce during the day and use it at night.
- You could save about 24 cents per unit on consumption charges using power stored in the battery at night, which is much better than only getting the 7.1350 cents per unit from your retailer if you didn't have a battery and sold the excess power back to your retailer during the day.