Sunbank Solar Deal - Melbourne Metro - Good Deal?

serpserpserp on 22/01/2019 - 12:33
Last edited 22/01/2019 - 13:23

Mail drop today by Sunbank Solar. Wanted to check with the OZB hivemind to see if this is a good deal. Might help someone else out as well:

  • 15x275W Tier 1 solar panels with 25 year performance warranty.
  • 5kW inverter with 5 year warranty
  • Micro Management Computer
  • Energy Management Software
  • Standard Installation
  • 5 monitoring and maintenance plan (vaued at $1,995)

Total RRP price from Sunbank: $7,694
After Vic and Fed govt rebates: $3,555

Good deal or should I look elsewhere? Is it a given that i'll get the rebates? Suggestions welcome!

SORRY TYPO should be 15 panels not 5.

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Comments

  • Ocker on 22/01/2019 - 13:06

    Very (very) pricey for a 1.5Kw system (5x275W Tier 1 solar panels). Also Tier 1 does not mean a great deal these days, you need to know the actual brand

  • stirlo on 22/01/2019 - 13:06

    5x275W panels? As in a ~1.3kW system? with a 5kW inverter attached? This system is not only expensive it's designed stupidly. Normally you want 33% more panel capacity than inverter to help on cloudy days (and to maximise federal STC credits).

    For the record I signed up with Sunterra with a 24 panel 6.6kW system (5kW inverter) for $3899 so total cost will be $1950 after Victorian rebate. Tell these guys they're dreaming!!!

    Rebate is pretty straight forward just have household income less than $180k, House less than $3million and get the installer to sign a form saying they don't have worksafe issues. Only problem is you will wait months to actually get the rebate back. I submitted the claim in October and still haven't received it.

    • Ahir87 on 22/01/2019 - 13:16

      Hey
      Who did you do this through, if you don't mind sharing??

    • serpserpserp on 22/01/2019 - 13:24

      Sorry should say 15 panels.

      • stirlo on 22/01/2019 - 13:29

        Ah, even still not a good deal. For Chinese brand "Tier 1" panels and inverter a price similar to mine is possible. For LG panels and Fronious inverter a price closer to yours is acceptable but still not a bargain

    • serpserpserp on 22/01/2019 - 13:25

      Why do you think you haven't get the rebate yet? Is there a time limit for the govt to pay?

      • stirlo on 22/01/2019 - 13:34

        The rebate was annouced in a press release before the department that was managing it had even been created so there's a massive backlog. Even calling them on the phone I was on hold over an hour. The normal timeframe is quoted at 10-12 weeks so provided I get it soon the delays not that bad. I think there's a new pre-approval process now that might speed things up for people that haven't placed an order for a system yet.

        It's all laid out here https://www.solar.vic.gov.au/Apply-for-a-rebate

    • serpserpserp on 22/01/2019 - 13:27

      Also is that 180k at the time of purchase or as judged at the FY19 tax year end?

      • stirlo on 22/01/2019 - 13:30

        FY 16-17 or FY 17-18 per the statement you get from My Gov.

  • 0FoxGiven on 22/01/2019 - 13:33

    FYI, the Victorian rebate is available only for households with an income below 180K

    • serpserpserp on 22/01/2019 - 13:51

      Suits me. Probably most OZBers too?

      • 0FoxGiven on 22/01/2019 - 14:36

        Just saying :)

        Also, I think there is a cap for the rebate at $2,225 (50 per cent rebate, up to the value of half of an average 4kW solar panel system ). So, the actual price you would pay for the system you quoted after rebate is around $5,400?

        EDIT : Sorry didnt consider Federal rebate. So its possibly cheaper than $5,400 (unless the advertised quote already included the federal rebate)

        • stirlo on 22/01/2019 - 22:30

          Pretty much every quote includes the federal rebate which consists of STCs (Solar Technology Credits). There no federal “cash” rebate like the Victorian one. I haven’t seen a single Solar provider that won’t get you to sign the STCs them over to their company.

          The quote above is probably just inflating the system cost to make it seem like the rebate is larger than it is. I can guarantee you they’re making a massive profit selling a 4kW system for $5805 ($3555 + $2250).

  • chingy213 on 22/01/2019 - 15:02
    -1

    The feed in tariffs are horrible which makes it useless IMO.

    • serpserpserp on 22/01/2019 - 15:41
      +2

      If I use the majority of my power during the day how is it useless?

    • stirlo on 22/01/2019 - 22:32
      +1

      Feed in tarrifs are fine. If you pay $2000 for a 6kW system like me you’ll make around $700-$900 of electricity a year even with the low tarrifs. Not many other investments return 35+% per year and pay off in less than 3…

      Plus if you actually use electricity in the day even better. As you save ~20 cents every kW you use rather than 11c

      • 41bid on 10/02/2019 - 18:02

        wow. Only paid $2000 for a 6 kW system? How did you get it? Could you please share some info?

        • stirlo on 10/02/2019 - 19:26

          As per my comment above. I got mine installed by Sunterra. Hello Solar also has a similar package. The $2000 is after government rebate ($3899 before vic rebate)

  • lgacb08 on 12/02/2019 - 13:09

    very expensive, so the way they advertised it then it's a roughly 4.2kw system for nearly $5800 before vic rebate. There's a much better deal on here with Sparkin Energy for the same price, but you got 6.6kw system and panel and inverter are much better. Also looks like they're gonna give you cheap outdated specs, 275w panel is old tech, like iphone 6 or galaxy s5 nowaday, you should look for 300w or above to maximise roof space utilisation. Inverter not specified but I suspect it's the same.

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