G'day.....

I'm currently looking seriously at a 6kW solar setup with either a standard inverter or new micro-inverters (one per panel which helps with shading dropout).

Costs are between 14-18K depending upon the option taken.

Given that I'm going to have to redraw the cost of the system from the home loan and average power bills are around $300.00 - 400.00 qtr ($1200-1600 yr), it's going to take around 10-12 years to break even (not taking into account POSSIBLE profits from feed-in).

I say POSSIBLE, because at present there is a 1:1 rate which is subject to change of policy at any time, as are peak and off-peak rates as discussed here in another thread.

I'm starting to think that I'd be better off putting the $14-18K into a high interest account and using the interest to pay the power bills instead??!??

At least that way, if things change (system prices (which have already nearly halved in recent years!, rates, panel power output, technology etc)I still have the $14-18K there to dip a toe in later.....or not.....my choice.

.....not to mention the interest saved by not having the extra payments to make on the home loan to pay off the system.

hmmmmm.......


what do others think about this idea?

I'm undecided and could easily be swayed either way....