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Is solar worth it with Net billing Tariff (NEM3.0)?
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Yes. It is still worth installing the solar paired with battery storage .
- The utility electricity rate is increasing year by year.
- You still need a rooftop solar (PV) system paired with battery storage for home energy freedom. In the daytime, the PV generation will supply your home load. Excess PV generation will charge the battery. During the On-peak, high priced, hours and at night, the battery is discharged to your home load. Payback time is typically 6-8 years with the energy export credit (EEC) compensation in August & September.
- With appropriate planning, solar generation (kW/kWh) will be enough to power the home during the day while charging the battery.