We want to let you know how investing in a solar power system can give amazing returns on your money
As the price of grid connected solar power systems has decreased dramatically over the last few years, investing in a system now produces a high return on investment (ROI) making it far more attractive than putting your money in bank term deposits or similar investments.
The size of the solar system that you install will determine your ROI, which will generally range between 7% and 12%.
Meridian have a new pricing structure - 25 cents + GST for the first 5 kwhs that you feed back into the grid and then 10 cents + GST for any additional kwhs.
This is the best option for those that are going to use all or most of their kwhs.
For an average home user considering a 3.2 kw PV Solar System the ROI would be around 12%
Contact Energy have a flat rate for buying back power which is 17.28c, so generally the larger system size you install, the higher the ROI.
Example of a ROI calculation
If you brought at 3.2kW grid connect solar power system (which generates 4672kWh/yr in Nelson) at $10,500 and this system saves you $1308.16 (28¢ power rate x 4672kWh) in power each year then your ROI is 12.45% ($1308.16/$10,500). Now remember that’s tax free – wow!!!! and your money's not going to disappear, it's on your roof!