The Bad News Re: Power Prices

Power prices have increased by more than 60%in the last 10 years, according to the latest report from the Australian Competition Watchdog, and the prediction is that power prices will continue to steadily rise. The next piece of bad news is that Tasmanian's pay the highest power bills in the country and with no or limited choice for choosing a power retailer it is vital that the consumer take control of their own power usage and generation. Not only are standard residences being hit with huge power accounts, but business is taking the brunt of high-energy prices. Businesses have been hit with price hikes of up 120% via higher tariffs and higher usage as they tend to use the bulk of their power when rates are highest throughout the day. To make the tale of business owners worse, it has been an uphill battle to pass on the rapidly increasing prices to the general public as a whole.

Unsurprisingly Consumers Have Reacted!

The first reaction from consumers is to reduce power demands through conservation, and secondly, we have begun to invest in products such as solar that invest in our long-term power surety. Solar energy is one of the few investments that quite simply put is a "No Brainer". Currently, there are generous government rebates, prices on solar have fallen at a significant rate and installing solar has never been cheaper. However, the most important thing to consider is the payback period. As prices go up the maths to justify solar only gets better. A 5 kW system takes a family between 3 and 5 years to pay back.

Below is the shocking graph showing the typical annual electricity account state by state.

The business case to install solar is so compelling the power industry is now running scared and for good reason. As battery prices come down, ROI is so impressive, the future is written on the wall. Just as Netflix and Online Shopping have turned the way we do things, the solar industry is on the same path.

Final thought, every year you have installed solar on your roof is a year it pays you to run your home or business and gets you closer to owning your system and having "Solar Energy As An Investment Put Simply Is A No Brainer".

If you want to know the amazing possibilities now on offer with solar or the other energy saving possibilities for your home and business, please give us a call on 1300 970 737 today! We can talk to you over the phone, come to your home or chat over a coffee.