In August I provided a 6 month update for the solar panels we had installed on our home. A $19,000 6.4kw system. After 6 months we had almost recovered 5% of the cost of the solar panels.
Now we have an extra half years data. How did we fare? Is it still worth it? Are we regretting the decision?
Stay tuned to find an answer to all these questions!
How much solar power did we produce?
Between February 2024 and January 2025 we averaged 727 kWh per month. June the worst month at 323kWh, which equates to just 10.8 kWh per day.
Solar power production per month (February 2024 to January 2025)
This is a huge increase from the 604kWh from February to July 2024. The months August 2024 to January 2025 averaging 849 kWh.
Of the 727kWh per month, we consumed an average of 327 kWh, which is 45% of total solar production. A big increase in solar consumption, but as a percentage of solar produced a 2% drop. Are we getting smarter around our solar use? A percentage drop would suggest no. But maybe that is just because during the days with the highest solar production, it is just more than we need. The other 55% (320 kWh) we sent back to the grid as we didn’t use or need it.
How much power did we consume?
Electricity use per month (February 2024 to January 2025)
My estimations when weighing up the pros and cons of getting solar panels, included using a power consumption average of 875 kWh per month. And that is where we were at for the first 6 months of year. The second 6 months, as expected, have bought the monthly consumption down to 857kWh for the year thanks to warmer weather.
Of the 857 kWh per month electricity use, 530 kWh has come from the grid and 327 kWh from solar production. That equates to an average of 62% from the grid (a drop of 6% from the first 6 months) and 38% from solar (a increase of 6% from the first 6 months). The from the grid number got as high as 78% in June and July and as low as 41% in December.
How much has our power bill been with solar panels?
Power bill with solar panels (February 2024 to January 2025)
Was $175 per month for the first 6 months of solar, so nice to see a drop to $140 for the years average. An average of $104 per month for the last 6 months (August to January).
May look pretty normal to many (in particular the winter months). We are a very power hungry household though. We have a lot of electrical appliances for work and security and home automation. We also work from home. Plus we have two young kids that go through washing like it is out of fashion. Around 20 loads a week. All that is to say the actual power bill is not the important part here. What is more important is how much we would have paid if we didn’t have solar panels. The savings.
How much have solar panels saved us in the last 6 months?
Monthly savings ($) from solar panels (February 2024 to January 2025)
Monthly savings (%) from solar panels (February 2024 to January 2025)
Total 6 months savings of $1,269 had we not had solar panels. An increase of $340 from the previous 6 months. Total savings for the year of $2,196. An average of $183 saved per month.
67% less than we could have been paying otherwise from August 2024 to January 2025. We had just 47% savings for February to July 2024. A significant increase from August for the warmer months. For the year, that then makes annual savings of 57%.
I’m pleased to see us increase from 47% savings from the first 6 months of solar panels. I would think it is a combination of better weather for the second half of the year and slightly improved usage patterns. Delaying using electricity until the sun is out. Still not perfect in that regard, but better. Room for improvement still.
When running the analysis on the decision to buy solar panels I was hoping for around $1,900 a year savings. At almost $2,200 for the first year I am happy with that.
Power prices will only go up from here. That will increase our savings over time. Right now, the cost of electricity is the lowest it will ever be. This will speed up the payback period even more so.
We have almost recovered 11.5% of the cost of the $19,000 solar panels in 12 months.
We are well on target for an 8-10 year payback period. As power prices increase, the cost of savings will only increase year on year.
Thanks for reading, and don’t forget we do have a solar panel payoff calculator on our website here if it is something you were interested in.