Your Guide To Living With Off-Grid Power

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In the old days, lighting was produced with fires and candles. People relied on a fire to cook food, keep themselves warm, and take a bath. Today, however, electricity is readily available in many households, giving you the ability to flip a switch when you need a light on, or when you want to cook food on the stove. We have become dependent on the convenience that electricity offers, but at the same time, the constant spikes in power costs also cut into our monthly budgets.

Self-sustaining accommodation – Gawthornes Hut in Mudgee, NSW

It was announced in recent news that there would be spikes in several prices throughout Australia. While gas was mentioned as one price increase, some also suggest that power costs will also continue to rise. One of the best ways to continue relying on power while also reducing electricity costs is to go off the grid. We take a closer look at how Australians can live with off-grid power in this post.

Starting Out Slow

When you decide to get a solar system that takes you completely off the grid in Australia, then you can expect to pay anything between $25,000 and $45,000 (Australian dollars). For homes that are considered heavy power users, the prices can sometimes exceed $70,000. This is quite a large expense that many households cannot afford to pay in a single payment. When you see the quotations for an off-grid power solution, you may suddenly find yourself discouraged and thinking that it would cost more to go this way than to deal with the price spikes in electricity prices.

The thing to consider here is that you do not necessarily have to go all out off grid at once. There are many people who gradually switch from the grid to alternative solutions.

Starting out slow means considering your current situation and then seeing where you are able to make adjustments to reduce your dependence on the power grid. This may include switching from an electric stove to a gas one, but it does bring about a new problem – and that is the fact that we have seen spikes in gas prices throughout Australia too.

Cutting power usage, however, is a good starting point, as this could allow you to start out with a simpler, less powerful system when you want to go off the grid. By investing in a smaller system, you can get a better idea about how these off grid power solutions work. It also gives you an opportunity to start using off grid power, and only switch to the grid when you absolutely need to. This is also a great way for people to learn how to save more energy in their daily lives.

Funding An Off-Grid Power Solution

One of the biggest concerns that people have when they want to switch to off grid power is the costs involved; due to the high price tags associated with these solutions, people are often not able to afford a one-time purchase. The great thing about these costs is the fact that they are just that – one-time fees. While there are maintenance steps that you will need to take, once you switch over, you won’t have a monthly electricity bill to worry about.

The setup of an off-grid power system for the housing. Image source: Off Grid Energy

This does bring us to the topic of funding the off-grid power solution. If you do not have the funds to pay a once-off fee for a solar power system, then there are two primary options that you can consider:

Financing A Solar Power System

When it comes to the installation of a solar power system, many people will choose to use financing services. This is a good choice if you are going to opt for a system that is powerful enough to provide power for your entire household and your specific energy requirements.

The great thing here is the fact that there are actually companies in Australia that specialise in providing financial aid and services specifically for solar power systems. Some of these companies may have less strict criteria or provide their systems at a lower interest rate compared to taking out a loan at your local bank.

You may need to shop around a bit and apply at various institutes in order to determine who can offer you the best rate and repayment terms. This way, you can keep the additional expenses you will undergo, apart from the solar power system’s price itself, to a minimum.

Note that financing is not a solution that will work for everyone. If you have a poor credit score, then you may have a difficult time finding a company that is willing to offer you financial aid for your solar system.

Saving Up For A Solar Power System

Another option that you can consider is to create a savings account and build up funds, which you will then eventually use to make an investment into a solar power solution. This particular option takes much more time to get the power solution installed compared to relying on financial services, but it does mean you won’t pay extra interest or administration fees on loan.

The first step that you should take here is to see different banks and other institutions that offer you access to savings plans. There are many types of saving plans, and some can provide you with a higher interest rate. Try to accumulate some initial funds that you can add to the account as a deposit upon opening. There are some savings plans that offer more interest rates on higher investments, so this can be an opportunity to secure a better annual rate.

Additionally, it is important to use the compound interest that you accumulate on the account to increase the investment amount. Regularly adding funds to the account, such as with a monthly automatic payment system, can also help you grow the funds faster. By the time you have an adequate amount saved up, you can use this to pay the once-off fee for a solar system – without the need to worry about paying off a loan.

Choosing The Right Off-Grid Power Solution

Apart from understanding how these systems work, the importance of starting out slow, and the funding options, you should also ensure you pick the right solution for your home.

Keep in mind the number of rooms you have at home, as well as how much power you generally consume. If you run a business from home, for example, then you will likely use more power than the average household. This means you will need to ensure the solar power system is capable of providing you with a sufficient amount of energy.

Make sure you also keep in mind the batteries included in these solutions, as this tells you how much power the system can store at a time – which is especially important during winter months where UV exposure during the day may be limited.

Conclusion

As prices for gas, electricity, fuel and other essentials rise, many people in Australia are looking for ways to take advantage of off-grid power options. While this is a great way to reduce electricity costs, it does come with quite a large initial investment. Starting slow and building up can be a great way to eventually move off the grid without the need to make extra debt in order to make this movement.

References

Written by The Original PC Doctor on 7/2/2023.

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