Reasons Why Your Solar Panels Aren’t Saving You Money

Solar panels have become a popular choice for many homeowners, especially in the state of Western Australia. People are eager to reduce their electricity bills and decrease their carbon footprint by utilising renewable energy sources. However, even with the promise of significant savings, some may find that their solar panels are not meeting their expectations.

In this article, we will highlight four reasons your solar panels may not save you money. By understanding and addressing these factors, you can ensure that your solar panels function efficiently and effectively, resulting in maximum savings.

Also read: Which Type of Solar Panel Is Best for Your WA Home?

1. Inverter Faults 

The inverter is a crucial component of your solar panel system, as it converts the DC energy generated by your panels into AC energy that can power your household. Inverter faults can significantly impact your return on investment by reducing the overall performance of your solar system.

Regularly monitoring your inverter is essential to ensure it operates as it should. During the day, the light on your inverter should be green, indicating that everything is working correctly. If you see a red or orange light, there is likely a fault that requires attention.

2. Dodgy Wiring

Dodgy wiring is another common issue that can hinder your solar panel performance. This refers to any faulty or substandard wiring used during installation, which exposes your solar panels’ electrical inputs and outputs to the elements.

Water damage can cause rust to form on your solar equipment, making it more challenging for your system to function correctly. To avoid dodgy wiring, hiring an experienced and qualified installer is crucial to ensure the job is done correctly. If you suspect your wiring may be compromised, hiring a qualified electrician to repair it promptly is best.

3. Changes to Your Electricity Rate

After installing solar panels, it is not uncommon for electricity retailers to change the rate they charge their customers. This is because they may lose income due to people generating their own electricity. Therefore, if you have recently installed solar panels, your electricity retailer may adjust your electricity rate to compensate for any potential profit loss.

To ensure that you get the best rates and save the most money, it is worth looking into changing your electricity retailer. Many options offer solar-specific tariffs, giving you a better return on your investment.

4. Damage Because of External Factors

External factors, such as home renovations, can damage your solar system. It is crucial to check that your system is not at risk of damage before commencing any home renovations. Your system’s cables may also deteriorate over time, causing a drop in output and reducing your overall savings.

Additionally, natural disasters like storms and bushfires can damage your solar panels, causing cracks or other faults that will impact your savings. It is essential to check your system regularly and address any damage promptly to ensure maximum efficiency.

Solar panels are an excellent energy and money-saving solution for homeowners. At Powerlec, we understand the importance of an efficient and effective solar system. If you find that your solar panels are not saving you the money you expected, contact us. Our qualified electricians can inspect and repair your system so you can start reaping the full benefits of your solar investment.

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Craig Woods

Craig Woods

Craig Woods founded Powerlec in 1998, and has since built the full-service electrical company up from humble beginnings to now servicing business and homes across the state and beyond. Powerlec prides itself on its core values of quality, honesty and integrity, keeping up to date with the latest advanced electrical technological changes in their field. Notable clients such as Bunnings, Halliburton Oil and Gas and Harvey Norman trust in Craig’s expertise and knowledge in his profession.