Price of solar drops in most Aust states

The average cost per watt for solar power systems dropped in most Australian states in March, according to independent reviews website SolarQuotes’ latest Solar Price Index.

Average installed cost per watt (all system sizes) dropped by 4c in Queensland, 9c in the ACT, a whopping 17c in Victoria and 2c in South Australia.

By contrast, in New South Wales prices jumped 12c. Western Australia saw an increase of 6c, due to higher average pricing for a handful of systems in the 6 kW (not 6.6 kW) category.

These figures are generated by the SolarQuotes Australian Solar Price Index, a tool providing historical pricing in each state and nationally. The Index also offers filters enabling generation of reports on various system capacities and components.

The averages for March 2022 are calculated based on details from 257 Australian system purchasers who shared what they paid when submitting solar installer reviews on solarquotes.com.au. These included reviews of businesses not within the SQ installer network. Figures and graphs are generated in real time as new reviews come in, so the results for March (and other months) are subject to change.

Looking at individual states, while Western Australia usually has the lowest system pricing driven by fierce competition in the Perth metropolitan area, Victoria appeared to have the cheapest solar in Australia in March 2022 on a cost-per-watt basis.

“This is the lowest cost we’ve seen in Victoria since July last year,” said SolarQuotes founder Finn Peacock. “While the situation can change month to month, now could be a particularly good time to take advantage of Victoria’s solar panel rebate.”

6.6 kW solar system pricing in March 2022

After a significant increase from December ($5591) to January ($6377) and then another small rise in February ($6402), 6.6 kW solar system pricing dropped back to an average $5910 in March 2022.

Again, Victoria led the way in terms of the biggest decrease, but there were also reductions in Queensland, Victoria, South Australia and Western Australia. The average 6.6 kW system price in New South Wales rose again, with not enough data for ACT, Tas and the NT to make a useful comparison at this point.

“Whether system prices are heading up or down, the best time to buy a solar power system is usually right now to avoid further locking in high household power bills,” Peacock said.

“It looks like electricity bills could also be higher for many Australians soon due to pressure on wholesale energy prices. The good news for solar owners is this could also mean higher feed-in tariffs — but the focus these days should still be on self-consumption to maximise value.”

Image credit: ©stock.adobe.com/au/6okean