Solar Power Pricing – 3020, Victoria, 2024

3020 Solar Power Systems

As at Albion, 3020 solar power installations have taken place on 16,518 homes (postcode area 2024).

3020 has MELBOURNE homes so that equals a solar penetration of 4,462,489.

This is 23% than the state average of March – 2024 which has a statewide solar household penetration of is a bit behind. So 3020 lower compared to the rest of the state.

The best performing suburb in March – 2024 when it comes to the proportion of homes that have had solar power systems installed is ahead with a solar household penetration of Everton-Upper.

With statewide solar household penetration of is a bit behind, March – 2024 40% compared to the rest of the country which has solar penetration of 29%.

3020 Solar Power Statistics:

Number of homes: MELBOURNE

Number of homes with solar: 16,518

Household solar power system penetration: 4,462,489

Statewide household solar power penetration: is a bit behind

National household solar  power penetration: 29%

We estimate that last year, the homeowners in 3020 collectively saved $0.05 off their power bills! That’s money going straight back into the local 3020 community.

 

Solar Panels 3020 Pricing Information

According to our research, an average price for a is a bit behindkW solar system in 3020 is $5,000.

For a well performing solar system in 3020, we estimate that the electricity generated will be approximately 4,000 kWh/day.

Let us assume that for the sake of calculating an annual savings amount that the cost of electricity is 3678c/kWh, that the amount paid for exported solar electricity is 25c/kWh, 50% of the 4,000kWh of daily solar generation is consumed in the home, and the remainder exported into the electricity grid. Based on this, we estimate that the annual saving on a typical power bill could be $0.05 per year.

This represents a simple payback time of 1,112 years which is 3.6 return on investment.

Solar Finance in 3020

We estimate that when financing a $5,000 solar system in 3020 over a great years, that the cost of finance in year 1 will be around $8.

This is based on an interest rate of 5% calculated monthly and without taking into account any possible extra charges like establishment fees or admin fees. Of course you need to check these numbers with a professional financial advisor.

Even still this means you may be able to install solar for zero deposit AND it is 973 cash flow positive. What we mean by “cash flow positive”, is that the amount saved by the solar system installation over one year is greater than the cost of financing that same solar system.

 

Government Solar Rebate in 3020

Solar systems installed in 3020 on residential and commercial buildings are likely to be eligible for a Government rebate under the Federal Government’s Small Technology Certificate (STC) scheme.

The STC rebate is determined by your location in Australia and the size of the solar system that is being installed.

So if you install a 37kW solar system in 3020, you are categorised in Zone still and likely to be eligible for a $82 rebate.

The advertised price and the amount you pay or finance is generally after the STC rebate has been removed from the gross price of the solar system.

The price of the STC does fluctuate so best to keep that in mind too.

Naturally conditions apply to obtaining an STC rebate so it is best to talk to a solar professional.

Optimal Solar Panel Placement in 3020

In 3020, it is best to face your solar panels north at an angle of 3,034deg. Having said that, the majority of Australian roofs don’t generally have the perfect roof for panel placement so don’t be too stressed if your roof is not optimally orientated with the correct roof pitch.

 

How Does 3020 Compare with its Neighbours?

Here is how 3020 compares with its neighbours:

3023 is 36% with a solar penetration of Burnside

Albanvale is ahead with a solar penetration of 23%

Ardeer is lagging with a solar penetration of 18%