The cost of a home solar PV system is thousands of dollars, starting at around $3500 for a basic installation. Prices are steadily coming down, as demand and mass-production increase.
Solar PV is intended to be an investment that, once paid for, will save its owner money by generating free electricity during daylight hours.
A system without batteries typically has a payback period of 3 to 5 years. Adding batteries extends the payback period.
To get a good idea of the potential benefit, use your electricity bills to estimate the amount of energy consumed annually by a typical household of your size in your area.
The feed-in tariff is the rate you are paid by your energy retailer for electricity that you export to the grid.
Feed-in tariffs differ among retailers as well as the states and territories and are subject to change.
Small-scale technology certificates
Small-scale renewable energy systems may be entitled to small-scale technology certificates (STCs) that can be sold to recoup a portion of the cost of purchasing and installing the system.