Solar energy has long been one of our planet's underrated untapped resources. The sun generates enough energy to power the Earth's entire electricity needs 35,000 times over!
With ever increasing technology advancements there has been no better time than now to tap into this incredible natural resource.
HOW IT WORKS
The simple: solar panels convert sunlight into electricity.
Sunlight hits the solar panels and electrons are knocked loose from the atoms of a semi-conducting material. It is the movement of these electrons which then result in an electric current flow.
"I'd put my money on the sun and solar energy. What a source of power! I hope we don't have to wait until oil and coal run out before we tackle that."
- Thomas Edison, 1931
There are many reasons why home and business owners go solar.
Here are some of the many benefits:
Cutting energy costs and saving on power bills
Using a 100% sustainable energy source, reducing carbon footprints
Reducing energy loads on New Zealand's strained hydro lake levels (especially during times of drought)
Giving you energy independence and resilience during power grid failures (certain systems only)
Providing a good return on your investment
Adding value to your property
Breaking free from ongoing rising power costs*
Solar is a great step forward and will lead to a more clean green efficient home or business while reducing your carbon footprint and adding value to your property. At Power on Point we listen to your goals or reasons for going solar, and will tailor a client specific system to suit your home or business needs.
*In 2004 the average price of power was 16c per kWh unit, which has now doubled to an average of 32c per kWh unit.
WHY GO SOLAR?
A solar system can generate power for any type of property or business, be it a tiny home or a large scale commercial plant.
Solar systems are also very reliable and low maintenance. Once installed, the system can be left to itself, or we can connect an in depth monitoring system to analyse system performance - maximising your gains.
Central Otago also has fantastic sun hour numbers, which can produce plenty of solar power for business and home owners to take advantage of. This is especially true for businesses which operate during day time hours, where savings of up to hundreds or even thousands of dollars a year can be made by investing in solar. Check out the graph on the left for a good example of average power consumed compared to solar produced power by a 9-5 small business.
Daily energy consumption levels of a small business using a 10kW solar system
YOUR RETURN ON INVESTMENT
$10,000 spent on a solar system will generate an average of 4428kWh (units of power) per year in Wanaka.
If you self consume 50% of the power generated (2214kWh), it will look like this:
Power unit rate* 2214 kWh x $0.32 = $708.48
+Solar buy back credit** 2214 kWh x $0.08 = $177.12
This equals a massive $885.54 in savings - more than double you will earn investing your money in high interest bank account!
This is a conservative estimate, as your savings will increase even more when you use more of your generated power rather than selling it back into the grid.
* $0.32 is the average power price per kWh in 2018
** $0.08 is the average buy back rate for solar kWh units in 2018
Based on solar system facing North installed on 30° roof pitch
Say you have $10,000 to invest. Are you better off spending it on a solar system or putting it into a term deposit?
Let's look at the figures ->>>>
Bank term deposit:
$10,000 invested at an interest rate of 4% over 12 months = $10,400.
So your investment has earned you $400 less income tax over 12 months.
With the planet's natural resources under increasing pressure and worldwide CO2 levels reaching increasingly dangerous levels by the day (climate.nasa.gov), now is the time for change and to go green.
In New Zealand approximately 80% of our electricity comes from renewable energy sources. Solar is on the rise and working with our current resources we can easily achieve the 100% renewable mark! This would make New Zealand a world leader in renewable energy.
This could also help take the strain off our hydro dams with ever increasing low lake levels due to higher power demand. New Zealand's renewable energy is at a tipping point and solar power is becoming more accessible and affordable.