The most common misconception I hear from home owners revolves around increased system production through the summer months. This leads to an influx of work through the Summer months.
It’s almost as though home owners look at a solar investment like purchasing a business expense in June. Do it when you see a big return immediately….
Investing in solar is not a short-term investment, most systems take years to meet their ROI (return on investment). If we looked at the logic behind such an investment, the key factors usually include reducing your energy bills and eventually getting ahead of the energy retailer.
Logic states, the earlier you invest, the earlier you will see a return. This also means the sooner you will stop having to pay the retailer for something you can soon produce for free.
Another point that many home owners overlook is the seasonal boom through November – March covering the hotter months, and let’s not forget the Christmas break. This is when retailers and installer’s slip their welly’s on as they get knee deep in work. Naturally, when a retailer is booked out, they tend not to cut margins to pick up more work. If anything, the home owner will see fixed costs or extended wait times for installation.
During the Winter months, solar installations reduce with many home owners opting to wait… until Summer. This pattern repeats itself based on the short-term gains of higher summer production, yet ignores the bigger picture, the investment itself.
If solar is on your mind as a method to get ahead and reduce your overheads, please consider the ROI time frame, rather than chasing immediate results.