Solar is a safe bet

To reduce the threat from coronavirus, more and more people across the country are studying and working from home, leading to anticipated surges in household energy use.

Eurobodalla Council’s sustainability coordinator Mark Shorter said solar power could be one of the highest bearing investments available at present.

“As the value of shares and superannuation drop and interest rates fall to record lows, solar could provide households and businesses with rates of return greater than 10 percent,” Mr Shorter said.

“Although solar installations may be impacted to some degree as coronavirus slows the economy, supply chains for panels and inverters are being restored again. Reputable Australian installers are using sound procedures around health risks and social distancing to keep the industry going.”

Mr Shorter said Council’s sustainability team was tracking new solar installations across the shire.

“It’s taken 10 years to grow from the installation of Eurobodalla’s first grid-connected installation up to the first 10,000kW of solar,” he said.

“It only took two years for the second 10,000kW to come online – how good would it be to see a third 10,000kW by the end of the year?”

As of February, another 1,377kW of solar power had been installed in Eurobodalla. Mr Shorter said now was also a great time to consider solar to reduce household energy bills.

“We’re in uncertain times but we can rely on electricity bills to keep arriving,” he said.

“Generating your own solar power remains one of the best ways to cut electricity bills and to do the right thing for the environment.”

The Australian Government’s Clean Energy Regulator publishes a monthly update on the solar power installations for every postcode.