Our 3-step guide to saving money on power bills:
Step 1 - Going Solar
Here is a simulation of your potential savings compared to the same usage without solar power. Please note that solar power systems produce 2 to 3 times more energy in summer than in winter, so your summer bills are a lot lower in the summer months. However, we have taken that into account, and the consumption data provided below are yearly averages.
- If you install a 5kW solar power system on your roof, which produces 22.5kWh per day, your production for the September-October billing period (61 days) will be 1372.5kWh.
- If your household uses 10kWh of that production daily and sends the remaining 12.5kWh back to the grid, your usage will be 610kWh and your export, 762.5kWh.
- Considering you use 1100kWh of electricity bimonthly, if 610kWh are generated by your system, you only have to import 490kWh from the grid.
If you are on the A1 Home Plan
With the anytime tariff ($0.26474 per kWh), your consumption will then be $129.72. This represents $161.49 of savings in a single billing period.
The power you produce during the day is either used by your household or sent back to the grid (export). Synergy buys back your exported power at the REBS rate of 7.135 cents per kilowatt. Thus, if you export 762.5kWh, Synergy will owe you $54.40. So, on top of saving money when you use solar energy, you earn money when you feed that sun power back to the grid.
Your usage savings combined with your export earnings amount to $1295.34 of annual savings.
If you are on the SM1 Smart Home Plan
Your time-of-use (TOU) solar energy bill will show you the detail of your power usage and export:
- TOU consumption
Time of use Usage Unit price (inc GST) Total Weekday peak 200kWh $0.503471 $100.69 Everyday off-peak 206kWh $0.138697 $28.57 Weekday shoulder 0kWh $0.263681 $0.00 Weekend shoulder 84kWh $0.263681 $22.15 $151.41
- TOU Renewable Energy Buyback Scheme
Time of use Export Unit price Total Weekday peak 0kWh $0.07135 $0.00 Everyday off-peak 27.2kWh $0.07135 $1.94 Weekday shoulder 518.3kWh $0.07135 $36.98 Weekend shoulder 217kWh $0.07135 $15.48 $54.40
In this example, switching to solar has saved you $168.12 and exporting your excess solar production to the grid has earned you $54.40 in just one bill. All in all, that is $1335.12 saved in a year.
Your bill tells you when you export the most energy, but doesn’t give you the total amount of power your solar PV system has produced or the part you have used.
However, depending on your inverter brand, you may be able to monitor your consumption. For example, if you have a Fronius inverter with a Fronius Smart Meter, you can keep track of your production and usage, and adapt your habits.
Step 2 - Load Shifting
Going solar is the first step to saving money and energy. Just by switching to solar and without doing any load shifting, you can expect to save about 25% on your power bills. However, depending on your usage, you may save a lot more.
As you know, solar panels are only efficient during the day so, if you wait to come home from work at night to start turning on your electric appliances, you’re not taking full advantage of your solar PV system. But if you move your consumption to the middle of the day, when the sun is out, you can really bring your power bill down.
Solargain has listed some examples of effective load shifting for you. Following these simple tips may save you 50% to 75% of your usual spend for the most committed.
Not only are you not paying for the power generated by your system, but you even get paid for any surplus that you export to the grid.
Step 3 - Battery Storage
All the energy that your solar power system produces during the day and that you are not using is sent back to the grid. Synergy buys that electricity from you at 7 cents a kilowatt and then sells it back to you at 26 cents a unit. Don’t you wish you could store this energy and use it when you need it?
If you are already making the most of your generated electricity and are still producing extra power, then you should think about storing that energy.
If you export too much to the grid during the day and you can’t increase your self-consumption, contact us online or call 1300 73 93 55 to discuss a battery option for your home.