Australian Solar Prices: February 2023 Update

Pricing for fully installed home solar power systems remained above the $1 per watt mark on average in January 2023 in each Australian state.

While cost-per-watt installed after all rebates and subsidies remained elevated, Victoria saw a significant drop compared to December 2022 – from $1.07 to $1.02. The state shares the distinction of the cheapest solar in Australia for the month with Western Australia. Across the border in South Australia, solar prices increased from $1.04 to $1.09.

Here’s how the states and the ACT are stacking up for January so far.

The table above is based on pricing information included in 232 solar installer reviews submitted to SolarQuotes as at February 23 covering contracts signed in January this year. The number of reviews where costs for systems purchased in January were included are a little light-on so far compared to other months. As new reviews come in, the figures above will likely change.

Cost Per Watt – National Historical Averages

The graph below indicates cost-per-watt pricing across all system sizes nationally since February 2021. Back then, Australians were paying around 93c a watt on average compared to $1.09 in January 2023. It’s quite a jump, but something else that has jumped significantly in recent times are electricity prices; so uptake of home solar power systems remains pretty healthy.

6.6kW And 10kW System Prices – January 2023

Average pricing for fully installed 6.6kW solar reduced from around $6,600 in December to $6,385 in January at this point. Again, the figures are likely to change as more reviews come in.

Indications are 10kW solar power systems crept up in price – from $11,540 in December 2022 to $11,659 in January 2023.

To keep track of pricing movements as new information comes in, use the SolarQuotes Australian Solar Price Index. Note that the system costs are based on a broad range of quality and installation scenarios. To see general pricing ranges currently for good quality systems, see our solar panel costs page.

Power Prices Making Panels Particularly Attractive

Many Australians have faced increased electricity charges over the last 6 months or so, and they aren’t over yet.

To help beat ballooning electricity bills, comparing electricity plans is a wise step. So too is going solar. While systems may be pricier than they were a couple of years ago, they still offer fantastic value for money assuming you have a suitable rooftop – and even more so under current conditions. But, if you’re going get panels it’s important do it right to maximise your returns.

To get an idea of how much you could be saving by installing solar panels – and estimated payback times in your circumstances – try the SolarQuotes solar (and battery) calculator.

Original Source: https://www.solarquotes.com.au/blog/solar-prices-feb23-mb2839/