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Why MAHESH

Mahesh has Financial Planning experience spanning over a decade, starting his career as a Financial Adviser with Westpac  in 2004.


After 8 successful years in the banking channel as a Financial Adviser working with small businesses, families and individual clients for their wealth creation and protection needs, in 2005 Mahesh took the opportunity to commence his own practice, Insurance Plan Financial Services Pty Ltd.


Mahesh is dedicated to helping clients prepare for life's most important milestones and achieve their personal and financial goals. He specialises in risk insurance and takes care of client’s personal insurances such as Life, TPD, Income Protection, Trauma insurance and also Business Insurance needs such as Key Man insurance. Mahesh takes pride in providing sound, honest advice and developing long term client relationships. He provides ongoing service and is fully involved in the claims process, when there is a need.


READ MAHESH'S FULL ADVISER PROFILE


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Mahesh Menon

Adviser & Director

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Is solar worth considering for your home?

As the temperature drops, power bills often rise. One way to keep toasty without the quarterly bill shock is installing your own roof-top solar system. But, how does it work, what are the potential savings and what incentives are available?

In the world’s sunniest continent, more than two-million Australian homes are now converting the sun’s power into their very own electrical power.

 The upfront costs aren’t cheap, so today we’re taking a look at how the technology works, what it costs and what incentives are available.

The technology


Rooftop solar energy in Australia is generated using photovoltaic (PV) cells made up of semiconductor materials, such as silicon.

When sunlight strikes the semiconductor materials, an electric current is created and captured to power your home.

How much electricity becomes available for household usage depends on a range of factors, including the size of the solar system, the type and number of PV panels and the orientation of the system. [1]

The cost

According to Choice, a typical home uses 20kWh (kilowatt hours) of energy a day, meaning a standard 5kW solar system can meet most daytime needs of such a home.

 Now, a 5kW solar power system will typically set you back $5100, and take between two and six years to pay itself off, depending on where you live in Australia and how much you export to the electricity grid, according to Alternative Technology Association calculations published by Choice


Government rebates and incentives


So those are the upfront costs. But what rebates and incentives are available?

There are two main incentives that can help you make money off your solar PV system: small-scale technology certificates (STCs) and feed-in tariffs (FiTs).


However, FiTs don’t pay as much as they used to, so you’re likely better off maximising the use of your own solar PV and minimising how much you export to the grid.


Instead, you can look to the following federal and state governments rebate schemes to help make the switch to solar energy:


Federal: Small-scale Renewable Energy Scheme - The rebate you receive will depend on where you live and the size of your system, but typical household rebates range from $750 to $4200, according to quote company Solar Market. However, expect these rebates to already be applied in advertised prices, points out Solar Quotes


NSW: The recently announced that the Empowering Homes Program will offer interest-free loans of up to $14,000 per solar-battery system. It will be available to 300,000 households over 10 years.

Final word

The Department of the Environment and Energy notes the typical payback period for a system without batteries is three to five years. Adding batteries extends the payback period.


Read more

Mahesh Menon

Adviser & Director

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