If you’re like most people, you don’t have expensive monitoring equipment or check your inverter regularly. This means you use your bill to see your solar savings, and it’s only giving you half the picture.
Your bill only shows you solar exports, and you get about half as much value for your exported energy as what you do when you use it in the home. This means your system is delivering considerably more savings than you might think.
Understand the true savings your solar system delivers
In simple terms, our estimate is as follows:
Total solar savings = your solar exports + solar energy you consumed
To estimate how much you consumed within your home is quite complicated. We start with how much energy your solar system should have generated in total. To project this in kWh, we do a calculation taking the amount of sun that fell on your area and your solar system size.
The solar energy you use in the home is valued in dollar terms as equal to the energy you buy from the grid (the usage rate). In most instances, this is around double or more what you get for your exported solar energy.
We then remove the amount of energy you exported to the grid (sourced from your energy company) and then multiply the remainder by a usage rate.
What should I do with this information?
Getting a solar system was a smart investment and now you know just how much it’s saving you! First things first, we think you should go down to the pub and have a bit of a brag.
But in all seriousness, understanding the true value of your solar investment is important to not only gauge whether it was a good move in the first place, but if an upgrade or battery is worth it in the future. By doing this estimate, we have also been able to share with you how much more we think you could save.
We’ve used regulated, recommended or average feed-in tariff and usage rates to calculate your savings.