With the global pressure on solar prices we are seeing a reduction in the cost of installing solar power here in NZ.
SolarKing can now supply solar power systems on a commercial basis that have a sub-7 year payback term. Increasing interest is being shown from commercial property owners, health and education sector and home owners. With a return on investment now around 15% in the first year and increasing every year as power prices increase, the financial case for installing solar is becoming compelling.
To compliment their range of German systems SolarKing are now importing top quality Chinese panels, which matched with German inverters provide an excellent lower cost solution for both large scale installations and the residential market. Installed cost of a system has never been lower and for some very large scale installations is now below $3,000 Kw.
Meridian energy report that there were approximately 120 renewable energy installs in the 2012 year, but this year they are receiving 1-2 applications a day. This reflects both the reduction in cost and the increased awareness in the market of the benefits of solar power installation, together with increasing power costs.
There is a viable export energy market with Meridian paying 25c kwh, which is about full retail price in most areas, for the first 150 kwh month exported and thereafter 10c kwh.
Given that the wholesale cost of power to Meridian is around 3.5c this is a generous tariff. In situations where the bulk of energy use is during daylight hours, such as some commercial and industrial businesses and schools it is possible to almost fully offset the power cost.
In commercial 24 hour operations such as supermarkets, a 40-50% coverage can be achieved. Solar power is coming into its own in NZ and is on the way to catching up with the rest of the world where it is the norm, not the exception.
When the financial savings are considered along with the environmental and green star rating benefits there is really no argument that solar power JUST MAKES SENSE.