Solar power is still a great investment option for Melbourne homes & businesses, even after a number of changes to state and federal government incentives. 5kW solar systems have proven to be one of the most popular system sizes in not only Melbourne, but also the rest of Victoria and Australia as a whole. But how much does a 5kW solar system cost in Melbourne? This article takes a look.
Solar Choice regularly publishes prices for residential and commercial solar systems based on data from our installer network database. Our goal is to make it easy for customers to make a decision about going solar, without pressure from salespeople.
The table below, taken from our May 2016 Solar PV Price Index, shows average 5kW solar system prices since August 2012. As can be seen, prices have come down significantly since 4 years ago–one of the main reasons that solar power remains as popular as it does in Victoria.
The average 5kW solar PV system in Melbourne currently costs roughly $1.42 per watt (W), working out to about $7,200 in total after the federal incentive and GST are taken into account. System prices may be higher or lower, depending on the company offering the system and the components used.
Shopping around and understanding the price ranges for systems of various sizes is just one of the steps necessary for making a well-informed decision about going solar. It’s also important to understand the benefits of going solar in Melbourne (and Victoria more generally), as well as what a 5kW solar system promises in terms of power output and potential electricity bill savings.
And don’t forget to check out our Solar PV System Payback Calculator, which will give you a rough idea of what sort of financial returns to expect from a system.
Request a free Solar Quote Comparison and get an instant look at the solar market in your area of Melbourne. Just fill out the form on the right of this page or call Solar Choice on 1300 78 72 73.
© 2016 Solar Choice Pty Ltd