With the recent drop in PV prices we are seeing a massive shift in the way people view the technology.
Solar Power has now become a financial investment option in and of itself.
Hi, I'm Ben, the owner of S4SOLAR.
I started S4SOLAR as a soley off-grid power company to provide my customers with quality products, open and honest advice and good service (the last two are severely lacking in the NZ solar power industry). But that is another story.
Recently we have seen a massive drop in Solar Panels pricing. This has suddenly pushed the grid-tie solar power system into the spotlight (or sunlight!).
5 years ago it would take about 15-20 years to get a break even return on a solar power investment. Now you will see a 100% return in around 9 years.
The shift in people's thinking has not been quite so fast, however I am noticing now that my new customer demographic has changed quite dramatically.
Over 80% of our new grid-tie customers are at retirement age (+-15 years). They are not primarily looking to save the planet or be sustainable, they are looking at the return and reducing their outgoings.
Typically, they have a small amount of money invested (usually in a bank) and are only getting 4% and there is no way 8-10% is feasable any more with all the finance companies gone.
Solar represents an11% Return on Investment over the first decade.
- It reduces your outgoings every month.
- It has no moving parts = low, low mintenance.
- Solar is a secure investment - It will not take your money and sail away in a superyacht.
- The more power goes up - the happier you are!
The Highest Possible Quality Installation is essential to the longevity of your system.
Longevity trumps Price:
Longevity should be the deciding factor when looking at buying an otherwise identically specified Photovoltaic Power System.
Why? As we discussed above, most people looking at Return on Investment (ROI) in the terms of “How long will it take to pay itself off?” This is a valid question and needs to be considered. However, more importantly should be the question: What will my system’s Lifetime ROI be?
Looking at this graph the question soon becomes "why are we so focussed on the first decade of returns when the last decade offers 300% more value?"
The quality of your Solar Power System makes the difference between product failure around year 20 or year 30 or beyond.