How much does it cost to install a solar panel in New South Wales?
With the rising energy costs, more and more people are looking to install solar panels.
One of the major questions which people have in mind is “How much does it cost to install a solar panel in New South Wales?”
But don’t worry about it anymore.
In this article, you will get all the answers related to the cost of installing a solar panel and how you can save as much as possible while enjoying all the benefits of installing quality solar panels.
The prices of solar panels have come down significantly in recent years, it is still a hefty investment for the average household.
The cost of installing an average 6.6 kW capacity solar panel will range from 4100$ to 9028$ depending on many variables.
The price will vary on your location, the size and the capacity of solar panels.
If you are installing a larger system then the price will be on a little higher side.
These prices will also factor in the different incentives which the Australian government is providing to the homeowners who are interested in installing solar panels.
You will get to know about that in detail a little later in this article.
There are 3 major costs while installing a solar panel.
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Solar Panels
If you want a long-lasting, efficient, reliable system that won’t pester you with repairs every few months, you won’t find it at a lower cost.
If you go with inferior quality solar panels, it may cost you a little less but it won’t be reliable and won’t help you much with energy savings.
They will not give you the best performance and you may have to re-install in the next few years.
There are great brands which can last longer than 10 years with maximum performance and are more trustworthy.
We use below solar panels:-
Inverters
Higher quality inverters can help you save more in the long term compared to lower quality inverters.
Inverters convert solar energy into usable power which you can use in your home.
The best quality inverter will last longer and will be more efficient with less maintenance over the years.
We use Enphase microinverters for all of our installations, which allows each individual panel to work on its own. This means that if one panel underperforms, the rest will still work at its full capacity unlike string inverters.
Installation:
Here is where you’ll see a lot of the costs. The cables, wires, and other miscellaneous equipment needed to set up your solar system will cost a couple of thousand at least.
You will have to pay more or less depending on who your contractors are.
Independent contractors often charge more for their services since they’re not selling you the parts.
We at RK Solar will do everything for you and assist you with the installation
Now you have a fair about different costs which involve installing a solar panel.
Now let’s understand about Solar Rebates (Incentives) provided by the government.
The NSW government aims to achieve net zero emissions by 2050 and that ambitious plan is powered by the support of solar energy.
That’s the reason the government is providing financial incentives to eligible households who are looking to install a solar panel.
Solar energy adoption is in its early stages. That’s why the government is offering these incentives to install solar panels but this will not last forever.
What Solar Incentives can NSW residents get?
If you live in New South Wales, you have access to 2 types of financial benefits for solar.
A. Small Scale Technology Certificates(STCs)
B. Feed in Tariffs
One point which you need to consider here is these incentives are changing rapidly and gradually decreasing each year.
Now is the time to install a solar panel for your home because it can still help you save thousands of dollars.
How does it work for you?
A. Small-scale energy certificates(STCs)
STCs are a sort of discount voucher that can be used while purchasing a solar system.
The number of STCs you are eligible for depends on factors such as, Size of your solar system, the STC zone you live in and the deeming period (Number of years remaining until scheme is phased out).
Australia is divided into 4 STC Zones.
Zone 1 receives the highest STCs while zone 4 receives the lowest STCs.
Zone ratings:-
Zone 1 – 1.622 rating
Zone 2 – 1.536 rating
Zone 3 – 1.382 rating
Zone 4 – 1.185 rating
How can you claim STCs?
You don’t have to.
Your solar installer will normally take care of the STCs for you.
We will calculate the amount of STCs you qualify for and apply that in our solar system quote to you.
So, the solar system quote which you receive will already be inclusive of the STC discount.
When we install the solar system, we will ask you to sign your STCs (vouchers) to us, and we will trade them for monetary value.
If you want to claim the value of the STCs by yourself, that’s also possible.
But you will need to pay for the higher upfront cost of your solar panels installation, register your STCs with the Clean Energy Regulator and wait in queue.
The Clean Energy Regulator mentions that it can take longer to sell STCs.
That’s why it’s recommended that you let your solar installer (Us) take care of that.
How much is the Solar Incentive on A 10KW Solar System?
Let’s look at an example of rebate calculation for a 10kW system.
Solar Incentive for a 10kW solar system in Wahroonga, NSW
Estimated cost of system: $14,000
Estimated STCs eligible: 138 STC
Estimated Value of STCs: $37
Total Incentive: $5,106
Price of solar system after incentive: $14,000 – $5,106 = $8,894
You can use this online incentive calculator provided by Solar Quotes, to calculate how much discount you would be eligible for.
Am I Eligible For A Solar Incentive?
Small-scale Technology Certificates (STCs) incentives subsidies the upfront costs of installing a solar power system.
To be eligible, here are the requirements:
1) A PV system that is less than 100kW in size
2) Your solar installer is Clean Energy Council accredited
3) The solar components used in your installation are approved for use in Australia by the Clean Energy Council.
The solar incentive in NSW will not last forever. It is expected to end by 31st December 2030.
The solar incentives were introduced in 2011 to encourage the uptake of solar energy in residential premises in Australia.
As the adoption of solar energy increased, the Australian government chose to gradually phase out of the program, from 1st January 2017.
2. Feed in Tariffs
A feed-in tariff (FiT) is a credit that solar users receive for excess electricity produced by their solar power system.
Unless you have a solar battery storage system, any excess electricity produced by your solar system is usually “fed” back into the electricity grid for other homes to use.
According to Energy Australia “the feed-in tariff is a set rate per kilowatt hour and paid as a credit on electricity bills.”
Feed-in tariffs make the installation of solar systems more affordable and reduce the payback time by providing savings in electricity bills.
It can vary, depending on your electricity retailer.
Best Feed-in Tariffs in NSW.
According to Australian comparison website, Canstar Blue, Origin Energy has the best solar feed-in tariff in NSW.
In their energy plan, eligible customers can get 22 cents per kilowatt
hour (c/kWh) for sending excess electricity into the grid.
Red Energy comes in 2nd place with feed-in tariff rate at 18 c/kWh.
Click this link to compare different solar plans for NSW.
New South Wales Solar Battery Program?
Empowering Homes – Solar Battery Loan Offer
The NSW government is assisting homeowners in eligible postcodes to access an interest-free loan.
This loan is specifically for the purpose of installing a solar battery system that ultimately will help homeowners’ access clean energy, cut energy bills, and be self-sufficient in terms of electricity.
Find out how to apply for the Empowering Homes – Solar Battery Loan here.
What’s in this offer?
An interest-free loan of up to:
A. $14,000 towards a solar PV and battery system (repayable over a range of terms up to 8 years), or
B. $9,000 towards retrofitting a battery system to an existing solar PV system (repayable over a range of terms up to 10 years).
*This offer does not include solar-only options.
Solar for Low-Income Households in NSW
THE NSW government is trailing a programme for low-income households which helps eligible low income households to reduce their electricity bills by installing a 3kW solar system on their home.
Eligibility criteria:
A. currently receive the Low Income Household Rebate
B. agree not to receive the rebate for ten years
C. hold a valid Pensioner Concession Card or Department of Veterans’ Affairs Gold Card
D. own your house
E. not already have a solar PV system
F. live in one of the following regions:
Central Coast
North Coast
Sydney – South
Illawarra – Shoalhaven
South Coast
G. If you are not the registered homeowner, but your spouse is, you may be considered eligible collectively as a household.
To find out more and apply for this offer, visit the NSW government websi
Is it worth getting solar panels in NSW?
The short answer is yes.
Generous government incentives, the falling price of solar, plus rising electricity rates and competitive feed-in tariffs, means solar system can help you save money and reduce dependency on the energy providers.
The payback period for a 6.6kW solar system is between 4-6 years in NSW currently, it may vary depending on the type of products used, the installation costs and warranties offered.
What size solar power system should I choose?
It depends upon the usage of your house and the peak sun hours in your area
Talk to us and we will help you figure out the right size of the Solar System.
What Solar Installer Should I Use in New South Wales?
RK Solar & Consulting has over 12 years of experience installing high-quality solar panels & solar battery systems for residential & commercial sites across New South Wales.
Our dedicated team consists of highly experienced engineers, electricians, technicians & energy consultants.
We work together to customize, design and install a highly reliable solar system, so you get the best returns for your solar investment.
As the top solar panel & solar battery installer in Sydney, we offer you a seamless process of going solar.
This means every single aspect of the installation is taken care of by our team. Let us know your energy goals and we will customize a solar system that will deliver results.
Get A Solar System Quote
Fill in the form below and one of our team members will contact you with a customised quote.
Contact Us
Head Office
Unit 21/6 Gladstone Rd, Castle Hill NSW 2154
Victoria Office
34 Chartwell Drive, Wantirna Victoria 3152
Phone Inquiry
1800 338 809
Email Us
info@rksolar.net
Contact Us
Head Office
Unit 21/6 Gladstone Rd, Castle Hill NSW 2154
Victoria Office
34 Chartwell Drive, Wantirna Victoria 3152
Phone Inquiry
1800 338 809
Email Us
info@rksolar.net