Research has come out showing solar power systems around the country are helping to slash electricity prices for everyone, whether they have had solar panels installed or not.

A report by the Centre of Policy Development (CPD) on solar power found that the PV systems installed are not only helping to reduce demand and pressure on the grid during peak times, but they are also reducing the wholesale cost of electricity for all consumers – provided electricity retailers pass on the savings.

According to NewsMail, CPD sustainable economy research director Laura Eadie’s report found the Australia’s million plus solar power systems saved between $300 million and $670 million each year in wholesale electricity costs. Ms Eadie also believes that solar PV systems will play a key role in getting us to 100% renewable energy but feels we need stronger and more supportive government policy. In addition to this, Ms Eadie said homes that have installed solar energy systems are also more aware of how much electricity they use and are taking actions to reduce their usage. This has also helped reduce demand and take some pressure off the grid at peak times.

Solar power has been the victim of many myths and the scapegoat blamed for countless price hikes. Over the years we have seen all these myths busted and hopefully most people are aware now that solar PV is helping them save money and will do for years to come. Rooftop solar energy systems will continue to grow residentially and commercially, slashing power bills, reducing demand and helping the grid cope at times of peak demand.