Many home owners are still asking us if purchasing solar is still worth it even though the FIT (Feed in tariff) has been reduced from 45c Per KW to 11c Per KW. It seems crazy doesn’t it? Why would you bother having solar installed when you are getting so little back from the energy companies?
How to save money on the OLD Feed in Tariff:
The tactic is simple…. Vacate your house during the day, have your solar produce as much power as possible without being interrupted and sell it all back to the grid at a rate of 45c Per KW…. Then come night time, you turn all your power-hungry devices on (Washing machine, dishwashers, pool pumps, ETC) and buy back all the power you sold during the day for a much cheaper 20-30c Per KW. If you are on the old FIT and you are not doing this, you need to start! There are huge savings available to you if you start. (SAVINGS PER KW 10-20C)
How to save money on the New Feed in Tariff:
This is where people are stuck in the past, if you stick to the above strategy for power usage there is no way you can take full advantage of the savings that your solar system has to offer, that is why you need to switch it up! Don’t use all your power-hungry devices at night that would be crazy! No you need to start using it all during the day instead, by doing so instead of selling your power to the energy company for 11c Per KW and buying it back later for 20-30c Per KW at night you consume the power as it is created and before it is sold to the grid! Doing this means that you save the 20-30c Per KW that the power companies charge! HUGE SAVINGS (More than OLD FIT that’s for sure)
Now you are possibly thinking “I work all day, I can’t just rush home to put my washing on when the sun comes out” and you would be right, that would be a pain in the backside… Not to worry though technology has you covered! Provided most of your appliances were not made in the 90’s there is a good chance that they all have built in timers meaning you can stack the dishes the night before set the timer for 8am and grab your clean dishes out the following afternoon with all power provided by your roof! The same goes for all major appliances, washers, dryers, pool pumps, even hot water systems (I will cover hot water in another post) these can all be thrown on timers for different parts of the day so you can reap the full benefit of you Solar.