Home Solar PV Systems
On the same basic principles, all solar PV systems run. Using what is known as the photovoltaic (PV) effect, solar panels first transform solar energy or sunlight into DC electricity. The DC power can then be stored in a battery or converted into AC power by a solar inverter that can be used for operating home appliances.
A home solar PV system costs thousands of dollars, the cost of solar panels for your home starting at around $3500 for a necessary installation. Prices are steadily coming down as demand and mass-production increase.
Solar PV systems are 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 3 to 5 years payback period. 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 your energy retailer pays you for electricity that you export to the grid.
Feed-in tariffs differ among retailers and 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.
How many solar panels do you need to power your home?
To accommodate solar panels for your house, an average Australian home would require 14-36 solar panels to support its power bill and at least 227 square feet of rooftop space. In kilowatts, the amount of energy that solar panels can absorb and then generate is measured in (kW).