What was the payback period for the commercial solar power system at Berembed station?
Synopsis
Many people are still hesitant about investing in solar panels, but the long-term benefits seem to outweigh the initial cost. In just three to four years, the payback period is insignificant, and electricity bills can be reduced by half. Despite the drought, solar panels are still considered the way of the future.
<br/>One farmer found that his power bill was only half of what it used to be after installing solar panels on his property. Even though the upfront cost may seem daunting, it's a no-brainer in retrospect. The company is now saving a lot of money and is on track to be miles ahead. With 55 and a half thousand hectares, the company runs on 6,000 acres of crops and has 3,000 cattle. The total power bill is only around $18,000 to $19,000, proving that solar power is a viable option for businesses.
Video Transcript
A lot of guys I know, I'm always surprised that more people haven't got solar on. Maybe the initial cost upsets them a little bit, but really, the payback period is insignificant. I mean, we're talking about three or four years and you've got them done and dusted, and then your power's a hell of a lot cheaper. I guess we've gone through a fairly tough time in the bush with the drought in the last few years, and that's probably put a few people off the initial capital cost. But really, long-term, it's certainly the way of the future. From what I can see at the moment anyway.
Yeah the financial return, we're talking about, I think, three or four years and we've virtually broken even. So we don't keep a hell of a good track on it. All I know, basically, is over the summer months, the thing that really sticks out for me, our power bill is half what it was prior to installing the solar. We obviously pay the bill quarterly. So each of those summer months, probably those two big power expense periods over summer, it's definitely half. It's saved us a hell of a lot of money. Yeah, yeah, miles and miles ahead. We certainly wouldn't go back. I'm glad we did it, you know.
In retrospect our company here had a few reservations for a start, because of the upfront capital cost. But really, the way it turned out in the end, it's just been, as I said, a no-brainer. Now we're starting to kick goals, we're going to be miles ahead. A property like this is nearly 55 and half thousand hectares here. We're on 6,000 acres of a crop, got 3,000 head of cattle here a lot of the time. Our power bill's only about sort of $18,000 to $19,000 all up to run the whole property.