What was the commercial solar power payback period for an agricultural business in Adelaide?
Synopsis
We were thrilled with the quality of installation of our solar panels, and the results have exceeded our expectations. The savings have been significant, with over $4,000 saved per month, and we're also proud to be reducing our environmental footprint. The payback period is estimated to be around four years, which means after that, we'll be saving even more money. We highly recommend solar power for anyone who is paying for electricity. Although the upfront cost may seem daunting, there are many ways to manage it, and it is ultimately self-funded.
If you need to borrow money to install solar panels, that's okay, because you can use the savings from your electricity bill to pay off the loan. This is a no-brainer because in just a few years, you'll have paid off the loan and will be saving even more money. As a satisfied customer, I'm even considering installing ground mounts on my broadacre property.
Video Transcript
We were happy with the quality of installation, there was no doubt about that. We monitored that as it was going along, and we compared to what we had previously. We're saving around the $4,000 a month, sometimes a little more on that, so that's pretty rewarding for us. And making sure that we're minimising our environmental footprint as well. Our payback period is going to be around the four years, so after that it's going to be money back into our pocket. I strongly recommend anybody who's paying for power to use solar because at the end of the day. You know, some people see as the upfront cost as being somewhat difficult to manage, but there's many ways that you can look at funding that. At the end of the day it's self funded, and I think that's the main key. And that's the message, that it is self-funded. You're generating, so you're saving. So if you're borrowing the money to actually put the solar up, which most people do, because to drag that sort of money out of your cashflow is not going to be easy, so using the savings to pay for your loan is a no-brainer. And at the end of the day, when you, at the end of three or four years, you have that payment back into your pocket, as well as the savings. I'm a very happy customer and I'm now looking at putting in some ground mounts, where I can use on my broadacre as well.