The year of 2013 has seen some of the lowest prices for solar systems in history. This has been the result of the high Australian dollar, combined with the record prices for Renewable Energy Certificates. These low prices for solar systems have reduced the pain for many customers who missed out on the 44 cent feed in tariff in Queensland.
The rapidly falling Australian dollar has seen the cost of solar equipment rise by up to 17% since November 2013. Leading experts such as Charlie Aitken from Bell Potter are predicting the Australian Dollar to fall as low as 75 cents US in 2014. (We all forget that in 2009, the Australian dollar was trading at 65 cents US) If it reaches 75 cents the cost of solar equipment will rapidly rise again by at least a further 15 % to 25%.
However, the stance on Renewable Energy by the Abbott Government is the largest threat in the short term for solar prices. As reported by Giles Parkinson of Renew Economy, the Abbott Government is being urged to remove Renewable Energy Certificates for roof top solar Systems. In our opinion the Government will reduce or completely remove Renewable Energy Certificates this year. This will add more than $3500 to the cost of a 5kW Solar system and up to another 2 years to get your money back on your investment.
Townsville is the best place in Australia for Solar Power production and profit. If you still don’t have solar, you need to act as soon as possible or you soon could be paying up to an extra $4000 for a 5kW system
Shonice is Horan & Bird’s Marketing Executive. She graduated from UQ with a Bachelor of Business Management, majoring in Marketing and has been a part of the H&B team for 12 months. When Shonice isn’t managing H&B’s Marketing, she enjoys being active or kicking back with a Margarita.