Solar For Free?
But Is It Worth It?
I recently came across a scheme by AGL called the ‘Solar Smart Plan’
You sign a 7 year contract.
AGL install panels on your roof for free.
You are able to buy the power generated by the panels during the day for a reduced rate (I understand this will be 12c/kwhr)
A few weeks ago I posted about the performance of my solar system at this link: ‘Solar Power Revisited’
Basically I bought a 3.3kw system for $4,450 which on current usage should save me $550 dollars per year.
Based on our usage the ‘Solar Smart System would generate the following benefits:
Annual Grid Power Costs Saving = 824 kwhr x $0.15 = $123.30
Annual income from Feed In Tariff = $0
Total Annual Benefit = $123.30
Meanwhile they receive 1,389 kwhrs they can then sell to others for over 27cents/kwhr = $375 (plus the power they sell back to you of $123.30)
All the above is based on rates for my supplier (Powershop) , , , , if AGL rates are higher the outcome may be worse.
As I wouldn’t have paid anything there is a benefit . . . . however I would be signing away the rights to my roof for $123 a year.
It’s also not clear what happens at the end of the 7 year contract.
I think I am a lot happier paying the upfront cost and getting more than 4 times the saving.