Solar Savings Calculator

How much will I save with Sunglow?

How much you save by going solar depends on how much hot water you use and what sort of heater you are replacing, as well as the value of various State and Federal Government rebates you might be eligible for. As you can imagine, the variation can be pretty large.

So by going solar with Sunglow, you will not only save on your energy costs, but you will also receive a brand new solar hot water system plus the full value of any Federal and State Government rebates or grants you may be eligible for. Sunglow lets you keep the full value of the various government rebates and grants, we don't offset them against the lease.

By making the switch to solar with Sunglow Finance, the average Australian household should see cash benefits from:

Government Rebates and Grants

The Federal Government is now offering a non-means tested rebate of $1,000 to eligible households who install a new solar hot water system. Read more about the Federal Government grant here.

Depending on which state you live in, you may also be eligible for a State Government grant of up to $1,200. Any of our Suppliers could give you details on what is available in your local area, because from time to time, local councils, shires or utilities also have various forms of rebates or grants.

Replacement Tank

With Sunglow, you receive a brand new solar hot water system that should last for a minimum of 10 years. Receiving this brand new system with no up-front cost means you save the $1,500 or so it would cost to replace your current gas or electric water heater, should your current system fail in the next 10 years.

Energy Cost Savings

With Sunglow, you are ahead from day one because for the average Australian household the amount you pay for your lease installments should be less than the amount you are currently paying to heat your water with a conventional electric hot water system.

The chart below illustrates the energy cost savings for a typical household that goes solar with Sunglow. As can be seen in this example, the annual lease payments are less than the energy cost without solar from day one.

Click here if you want to see how we calculated average hot water and energy usage.  

Average family converting from an electrical storage water heater to electric-boosted solar

In the above example, in every year, this average household's Sunglow lease payments are less than what it would have paid for electricity to heat the equivalent amount of water. That means every year they are saving money. We have only shown the savings for 10 years (which covers the 7 year Lease Term plus the optional 3 year Extension of Term if the householder wants to keep leasing the system after 7 years), but of course the savings should continue for as long as the collector panels are in operation.

For a 7 year Lease Term, Sunglow has set the Agreed Value at 23% of the Lease Amount. This means that at the end of the 7 year Lease Term, Sunglow assumes full market risk that it should be able to dispose of the second hand equipment for at least that amount should the householder decide to return the complete system to Sunglow.

A great benefit of the Sunglow Lease Agreement is that the householder can send the complete system back to Sunglow at any time*, with nothing more to pay other than the Lease Termination Payment.

* If the householder receives cash concessions from various government departments, there may be minimum time periods imposed by those government departments over which the complete system must remain operable in accordance with the grant of the concession.

Ready for the next step? Go to How to lease from us.