The cost of installing a new solar system in Australia has fluctuated in April, following nationally lower prices in March, with significant increases Queensland, Victoria, and South Australia, but marked drops in both New South Wales and Western Australia.
According to new figures from SolarQuotes’ Australian Solar Price Index, the cost of solar in Australia throughout April went into reverse when compared to the previous month.
Despite a March which saw prices dip across the country, only New South Wales and Western Australia were able to replicate similar circumstances to see solar costs decline further.
Reflecting the cost for a fully installed system – inclusive of all rebates and up-front subsidies – SolarQuotes’ figures are based on details from 286 purchasers.
Cost per watt for a fully installed solar system in New South Wales in April was $1.12/watt, and an impressive $0.85/watt in Western Australia. However, prices jumped back up in Queensland, Victoria, and South Australia. Prices for Tasmania, the ACT, and the Northern Territory for April were not available.
“There is no clear explanation for the price dip in March,” said Finn Peacock, founder of SolarQuotes.
“There has been some chatter indicating Australian wholesalers purchased large quantities of panels a while back for expected orders that didn’t materialise – and then struggled to offload them.
“Perhaps this temporarily took the heat off panel costs, but that doesn’t really explain differences between the states over the last couple of months.”
Nevertheless, this still sees the national cost per watt of a fully installed solar system climb only marginally, from $1.02 in March to $1.04 in April – though this is still up on the $0.90 recorded in April of 2021.
The average price of a 6.6kW system – the most popular capacity choice for Australians, even though many are beginning to choose larger systems – have dipped since their early 2022 high but is still well up on what we saw in 2020 and 2021.
SolarQuotes’ Peacock also explained that higher electricity bills are likely on the horizon for many Australian households, thanks to the continued upwards pressure on wholesale pricing and other factors.
Thus, solar is even more a wise move for Australians looking to minimise their energy costs.
“Any significant increase in electricity costs will likely see more demand for solar installations, and if current import and panel pricing issues persist, this could see system prices heading north,” Peacock said.
“But the fact remains, the longer a household puts off installing panels, the longer it is locking in higher electricity bills.”