Research by the Australian Bureau of Statistics shows the average power bill over the past five years has risen in Brisbane by an astonishing 50.7%, Sydney has risen by 61.3%, Melbourne also seeing an enormous 56.8 per cent increase, and Canberra has experienced a 45.9 per cent rise. With the average quarterly bill expected to jump to around $950 in the next five years, households will be out of pocket by an extra $180 each month, applying serious pressure to already stretched budgets.
People today have larger houses with more things in them including power hungry plasma televisions, computers and air conditioners. As these appliances are embedded into peoples lifestyles, it is unlikely people their use will be reduced, the rising electricity costs are leading people to explore other ways of making their use more affordable. An investment in Solar Power will reduce the dependancy of households and businesses on power companies, and provide protection and hedging against continually rising electricity prices.
People who have installed Solar Power Systems are now recognising the considerable investment benefits that are delivered; particularly with pay-back periods being achieved of 3 to 5 years. Although an investment is made upfront to install a solar power system, this money would have to be spent regardless on electricity consumption expenditure, and hence contributing to the pay-back period.