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Australia's first solar garden sprouts in Grong Grong, taking the renewables boom to the community (www.abc.net.au)

submitted 6 months ago by [email protected] to c/[email protected]

13 comments fedilink hide all child comments

cross-posted from: https://slrpnk.net/post/8872514

The ‘solar gardeners’, who mostly live in cities hours away, are getting returns of $505, possibly higher, locked in for the next decade, depending on the electricity market

The returns are credited directly to their electricity bills.

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[–] [email protected] 2 points 6 months ago (1 children)

Just to clarify the dollar figures as I was a bit confused just reading the post text:

Each ‘plot’ cost $4,200, which buys approximately three kilowatts of solar panels

will get at least $455 off their power bills for the next decade, with $505 a year for the first five years locked in.

[–] [email protected] 2 points 6 months ago

So a non refundable return of over 10% with an expected break even at year 10. Hmm, that's not a good investment. Also I adds no value to your property.

I'm gonna call it, the farmer put up $100k in solar and sold it for $200k with a dividend plan for what it produces.