From 1 July 2022, Queensland homes will face tariff increases by up to 12.6% in South East Queensland. Small business customers will also be affected by prices rising up to 13.5%. This is due to wholesale prices increasing by a whopping 140% and now being passed onto customers.
However, properties with solar are somewhat insulated from these price hikes as they generate their own electricity and can minimise the reliance on the grid.
Payback periods for solar panels vary but on averayge on a 6.6kw system with good quality products, you can expect a buy back period of 4-6 years. Considering the average life-span of a solar system is 20-25 years, that's a solid return on your investment.