By Evolution Solar Sunshine Coast

With the prices of electricity increasing almost daily and the cost of solar power systems falling (and continuing to do so,) it is fast becoming cheaper to buy and install a solar system than to do nothing and draw power from the electricity grid.

In order to compensate for many political leaders all over the country reducing subsidies for renewable energy systems, costs of solar power products have come down and continue to do so. In fact, costs have fallen by over half in the last few years. All the while, electricity prices are doing the opposite. Peter Simpson, state secretary of the Electrical Trades Union said that “The construction industry is still off work, as well as education, so if we are already exceeding base load demand in January, it will worsen in February.” Every time we exceed the base load that the energy companies can handle, they have to fire up, expensive small generators to make up the difference – making the market price of electricity skyrocket. Therefore, experts have warned that prices may go up once construction, schools and universities go back.

The following table published by Cleantechnica shows the cost installing solar power, current feed-in tariffs, cost of buying electricity and the cost of producing your own electricity through a solar pv system by state.

As you can see, in four states it is actually less than half the price to produce your own power than to buy it.

The following points should be considered when using the above figures:

– The cost to install solar power is taken from an average figure of installing a three kilowatt system in December 2012.

– Feed-in tariffs vary from area to area and can be subject to the date solar was installed. Figures used are reflective of feed-in tariffs applicable at this time.

– The cost of electricity can vary from region to region as well as from company to company. Those figures used may be slightly higher than what is true.

There are many factors that can cause variants but the main outcome will be the same – it is cheaper to install solar power and produce your own electricity. It is costing you money and causing the environment harm every day that you don’t consider solar power.

Global investment banking giants, UBS, also released some statistics showing how solar power is the only way forward and described it as a ‘no-brainer.’ Their figures showed the following graph about the cost of solar power connected to the grid, stand alone solar power systems and the cost of electricity.

They say that a boom in unsubsidised solar power installations will spark a solar revolution and the energy market may never be the same again. Effectively, utility customers will become competitors. Adding battery back-ups (stand alone solar power systems) are said to become cheaper next year and be the next game changer in the energy game according to UBS.

With many cottoning on to the fact that it will save them money to install solar power, the demand for energy is decreasing. When demand lowers, there is another reason for electricity companies to increase their prices and they would not miss out on the opportunity to do so. Don’t let yourself be party to these changes and cause yourself any unnecessary stress – INSTALL SOLAR POWER TODAY!