QUESTION: Does solar pay?
Director & General Manager Andrew Noble explains
The short answer is YES!
Solar generation is a concept that most people can grasp and accept. It’s environmentally friendly, electricity costs are increasing and the cost of solar infrastructure is becoming more efficient and economical.
When it comes to understanding what technology is right for a company, what the pay back periods are, and how reliable the solar providers claims are - it can get hard and complicated, so decisions to proceed with solar often get deferred.
Choosing trusted partners that have a strong track record in the solar industry is essential as it’s possible to be ‘oversold’. Variables that need to be analysed are not simply “How much power is used over a period of time at a determined $/kWh.” It’s about how much power, when it’s used and then at what rate $/kWh.
Solar panel efficiency has increased by approximately 50% in the last 5 years. This means you get more watts/m2 of roof and therefore a reduction in the overall weight on the buildings structure. Pay back periods can now be as short as 3 years but average 4 to 6 years.