The True Cost Of $999 Solar + Battery Deals Revealed

Just $999 for a fully installed 10 kW solar panel and 10 kWh battery system in Victoria? If only it were so – the real cost is much, much more.

Ads have been springing up on Facebook recently offering solar power and home battery system packages for what at first glance appears to be a thousand bucks. That should trigger suspicion immediately as a good quality PV + energy storage system of these capacities professionally installed currently costs north of $18,000.

So, what gives?

The small print on the ad image shown above left was *tiny* and barely readable. Here’s that fine print’s actual size:

It’s ads like these that make me fully appreciate springing for good multi-focal glasses. The fine print reads (bolding mine):

“Price applicable for Single storey, Tin Roof, Metro Areas. Regional and Double Storey will cost extra. Battery – Standard battery installation next to meter-box is included, prices after Solar Vic Rebate and loan.”

It’s the “loan” bit at the end that’s most problematic as the ad clearly states $999 fully installed. Text in the post accompanying the imagery also mentions “(After Solar VIC Rebate & Loan)”, but revealing that requires clicking the “see more” link in the post. And while clicking on the “Get Offer” button may take you to a landing page revealing the loan gotcha too, in my opinion whiffy promotion like this undermines trust in the Australian home solar industry.

What’s The Full System Cost?

The Victorian Government’s Solar Homes program offers a subsidy and optional interest-free loan for solar power systems and an interest-free loan for batteries; assuming eligibility.

• The Victorian solar panel rebate is currently up to $1,400.
• An interest-free loan of up to $1,400 is also available for a solar power system. This is repaid monthly (up to $29.16 a month) over 4 years.
• The Victorian solar battery loan is up to $8,800; also paid back monthly (up to $183.34 a month) over 4 years.

In total, the customer will be paying:

$999 + $1,400 (solar loan) + $8,800 (battery loan) = $11,199.

While that’s 11x the “fully installed” price prominently displayed, it’s still suspiciously cheap.

So, then there are questions about the quality of all the hardware involved – for example, I noticed one firm using imagery of batteries not part of their $999 deal.  And will corners be cut in installation and after-sales support to deliver such a low price? Being a New Energy Tech approved seller as this particular ad indicates is not a guarantee of a good quality installation or after-sales service, and the general nature of the ad also raises a question in my mind if the company can be trusted.

What About All Those 5-Star Reviews?

Customer reviews can be a good way to gauge a company – but not always. I’m not stating that’s the case with the installer promoting their 5-star reviews, but issues surrounding reviews generally can include:

• Fake solar reviews – which are still rampant.
• Incentivised reviews.
• Customers submitting high-rating reviews soon after installation before problems start, and then not submitting a follow-up when they do.
• Customers submitting poor reviews on third-party reviews sites being pressured to take them down.
• A business only stating the number of good reviews in their promo – excluding the bad ones.
• Lots of positive old reviews, but then something changes at the company and it starts consistently getting poor reviews.

Whether you’re paying $11,199 or $18,000 (or more) for a 10 kW solar and 10 kWh battery system, it’s a significant investment either way.

Being informed before making a purchase decision is key; so learn everything you need to know about purchasing solar power systems and buying home batteries before signing on the dotted line. The small investment of time could avoid serious heartaches, headaches and hip pocket pain down the track.

With a federal government battery rebate to be launched if Labor wins the upcoming election, that will no doubt trigger a wave of dodgy advertising – we’ve already seen one example. It also makes me wonder if the Cheaper Home Batteries program somehow comes into play with some of these $999 deals currently advertised. Consumers as well as regulators really need to be on their toes.

Learn more about the high cost of cheap solar.