Solar Power Can Help Take The Sting Out Of Petrol Prices

You don’t need to fork out a bunch of cash for an electric vehicle right now to mitigate the broad impacts of skyrocketing fuel prices. Install solar panels instead, and then you’ll also be better prepared for when EVs are more within reach.

Petrol prices above $2 a litre are causing hardship for many and the impacts of surging oil prices (and possibly gas prices), if sustained, will spread to most items and services we purchase. Whether you drive a heavily modded 4WD, a petrol-sipping hatchback, ride a bike, use public transport or don’t go anywhere at all; many of us will feel the pinch of what’s happening beyond our shores – and the longer that goes on the nastier the pinch may be.

Buying an electric car is becoming an increasingly attractive prospect for households. But aside from being out of reach for many in terms of affordability, there are also availability issues both in terms of options and supply.

For example, there was a two year wait on Kia’s EV6 before it even hit showroom floors. For the much cheaper MG ZS EV, the wait period is apparently more than 8 months. Some EV makers have also jacked up prices recently; including Tesla (Model 3) and it seems BYD is about to on the Atto 3.

If you ever needed yet another reason to go solar, petrol prices could be the trigger. And <insert favoured deity here> only knows what new unpleasant surprises that could impact the hip pocket may be around the corner, given Murphy appears to have been working a lot of overtime these last few years.

While the cost of a solar power system has gone up in recent times too, it’s a much more affordable bill busting technology than an electric car. Solar remains and will continue to be a very solid investment that can act as buffer against not only electricity price increases but also other rising costs, such as petrol.

The Savings Solar Energy Can Bring

Using the SolarQuotes solar calculator with its default settings indicates the following first year savings and simple paybacks on 6.6kW solar power systems; the most popular capacity installed in Australia at the moment.

• Queensland (Brisbane): $1,522 / 4 years, 9 months
• New South Wales (Sydney): $1,425 / 5 years, 1 month
• ACT (Canberra): $1,459 / 5 years
• Victoria (Melbourne): $1,142 / 6 years, 6 months
• Tasmania (Hobart): $1,144 / 6 years, 2 months
• South Australia (Adelaide): $1,585 / 4 years, 6 months
• Northern Territory (Darwin): $1,327 / 5 years, 4 months.

.. and perhaps consider a larger system if you’re getting an electric car down the track. The biggest installation most residential rooftops can handle is a 10kW solar system.

The situation in Europe has driven home the point Australia needs to be more energy independent. Solar energy is one of the very important tools in achieving this and by doing your bit, your household could reap the many rewards of making better use of your home’s rooftop real estate.