Three reasons 2023 is a great year to invest in Solar
It’s always a good time to invest in solar, but 2023 is looking like a great year for solar. Here are three reasons why:
1. Increasing strain on National Grid
Electricity demand in New Zealand is increasing for a range of reasons. This includes a growing population, an increase in electric heating, and industry’s increasing electricity use (moving away from coal). All of this adds pressure to our already strained electricity supply.
Higher demand will impact energy prices, and the country’s current ability to rely on renewable energy supply. Electricity production via coal has actually increased in recent years, 2021 had the largest use of coal in a long time.
New Zealand is committed to carbon zero by 2030 and more sustainable energy sources will be crucial for New Zealand to reach this goal.
Solar power can provide the solution, both at a grid-scale (Solar Farms) and at a personal level (distributed generation). Investing in solar protects you from the volatile energy prices that have been seen in recent years, and gives you the peace of mind that your energy is coming from a sustainable source.
2. Globally Solar is set to soar
Solar is likely to be the fastest growing energy sub segment in 2023 with demand set to increase 20-30%, according to Bloomberg Intelligence. The World Economic Forum believes that by 2030, solar could become the most important source of energy for electricity production in a large part of the world. This will include New Zealand; as large-scale hydro is maxed out, solar and wind will likely be where New Zealand meets its future energy demand.
Why is this important for you? As the reliance on solar increases around the world, investment in new technologies promises to increase efficiency and possibly lower costs further. Solar has already become significantly more affordable in recent years.
Many of the brands we partner with, Fronius and Tesla for example, have the ability for their products to remotely ‘upgrade’ their software. This means your system can become more efficient even after it is installed.
3. Financing Solar systems has never been easier
2022 saw many major banks in New Zealand introduce very low or even no interest loans to put towards energy efficient upgrades including solar and battery storage.
As standard interest rates and the cost of living continue to creep up, these low interest rates offer a cost effective way to shift your home’s energy supply to solar and reduce your energy bills.
Check our our article on the Bank loan options for solar systems and batteries.
Ready to explore a move to solar in 2023? Contact our experts to discuss your options.