Save Money and the Environment With Solar Power in Lake Macquarie

Lake Macquarie residents & businesses are prioritising saving dollars and the environment with solar power. On average a solar system in the 2280 postcode area produces over 25kW a day with surplus energy exported to the grid for a 5c per kilowatt-hour feed in tariff.

New developments by Nimble Property in Warners Bay and Marks Point will utilise home energy storage solutions to save their residents tens of thousands of dollars in electricity charges each year. Find out how here!

1. Feed in tariffs

For households that generate more energy than they use, the tariff pays them for the excess power they deliver to the grid. This rate is typically higher than retail electricity rates, and it encourages solar adoption. While model results for the value of solar are still relatively early, it is likely that the more favourable compensation rate will increase the economics of the system.

This is because wholesale electricity prices in the middle of the day are generally lower than retail rates, and so the surplus energy reduces those prices. Similarly, the cost of generation from renewables like wind, landfill gas and photovoltaics is often much less than the average electricity market price.

So, it is important that the feed in tariffs reflect these values and provide a strong incentive for households to go solar. This is why many long time supporters of net metering are now supporting the transition to feed in tariffs.

2. Energy efficiency

Getting the most out of your solar panels requires routine maintenance. You need to keep them clean to ensure they produce the most energy for you in the optimum way possible. Reclaim Energy offer a range of solar panel cleaning services, which are designed to keep your system operating at peak performance and delivering the savings you expect.

Nimble Property is launching new developments in Warners Bay and Mark’s Point that will be among the first to utilise home energy storage solutions, saving residents tens of thousands in electricity charges each year. They have partnered with Australia’s largest and most trusted provider of solar systems, Natural Solar, to provide solar and battery solutions for each home in the development.

On average, a residential system in Lake Macquarie generates over 25kW of power per day, with the surplus energy sold back to the grid at 5c per kWh via the feed in tariff. This significantly reduces electricity costs and offsets greenhouse gas emissions.

3. Solar panels are a long-term investment

The investment of a solar power system provides significant savings on your energy bill over the course of its lifetime. It also protects you from rising electricity prices and offsets greenhouse gas emissions.

A residential solar system typically pays itself off within 10 years, and the benefits continue for decades after that. This makes solar a solid long-term investment for homeowners and renters alike.

Investors can calculate their returns on a solar system by comparing its upfront cost to the yearly electricity savings it will generate. This formula takes into account local electricity rates, your electricity consumption patterns and whether you buy a system up-front or take out a loan.

Solar systems offer a high return on investment, compared to investments like stocks and real estate. In addition, unlike these investments, a solar system will not lose value over time. This is because solar production can be guaranteed for 25 years. The only drawback is that home solar owners may want to sell their property before the end of its warranty period.

4. Energy storage

As nations around the world increase their commitments to cutting carbon emissions, the demand for energy storage systems could rise rapidly. Combined with falling battery costs, this could fuel the growth of a global market for ESSs.

Energy storage can be used to balance electricity loads, or can be aggregated with solar and wind generation to provide grid services such as resource adequacy. Customers can also use behind-the-meter batteries to save money on their electricity bills, or offset their greenhouse gas emissions.

In Lake Macquarie, the rooftops of many homes and businesses are facing North. That is generally the best position for solar panels, as it maximises solar irradiation. Depending on the location, however, the panels may need to be tilted slightly upwards or downwards for a good installation. This is to ensure the solar panel is facing directly at the sun, rather than pointing in another direction. The tilt depends on the latitude of the location, with the ideal angle being roughly 33 degrees.

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