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What was the main reason why Doug decided to invest in a solar power system?

Synopsis

Doug Fraser and his family have been living in their large, open-spaced home in Wonga Park, Victoria for 20 years. The family has been exploring the idea of installing solar panels for about a year and were swayed by the financial benefits. With solar energy becoming a better investment than putting money in the bank, Fraser calculated a return on investment of about 10%, which is significantly higher than interest rates at the bank. The Fraser family's large electricity bills were also a factor in their decision to switch to solar energy. With the power prices expected to continue to increase, solar energy seemed like the perfect solution.

Aside from the financial benefits, the Fraser family was also pleased with the appearance of the panels. The sleek black frames looked fantastic and exceeded their expectations. Ultimately, the performance and quality of the panels were the real winners, and the Fraser family was very pleased with their decision to switch to solar energy.

Video Transcript

- My name is Doug Fraser, we are currently at Wonga Park in Victoria, Australia. We built this house 20 years ago, we really enjoy the open spaces and the bush. We've been looking at solar for probably a year now. The thing which got us over the line was the economies of solar now has reached the stage, where it's actually a better place to put your money than in the bank. The financial benefit that I calculate will be a return on investment of about 10%, which compares with interest rates at the bank now of significantly less than that. There's lots of calculators online now where you can calculate for various size systems with your power consumption habits of whether solar is a good prospect, and it is a very good prospect. We've always had rather large electricity bills. We're in a fairly large house, so trying to work out a way to reduce those apart from changing our consumption habits is something we've been looking at, and solar fits the bill. Yes, I'm worried about power prices going up. From when we moved here to now, I think power prices have gone up from four cents a kilowatt hour to about 30 cents a kilowatt hour.

- Those black frames are looking really lovely.

- And I think the surprise that I've had is how good the panels look. I wasn't that concerned about appearance, but seeing the panels go up now from a distance, I'm very, very happy with the appearance of the panels.

- They're a nice looking panel, but yeah, it's ultimately it's the performance of the panels that's the real winner and that's long time and obviously, the quality.

- Yes, absolutely.

- So they should, you know, they look great on there.

- Yeah, I'm very, very pleased.