The new Plan Optimiser from Solar Analytics – finding the best electricity plan for you

Published: 25 August 2021

Solar Analytics has developed the Plan Optimiser – a smart tool that recommends electricity plans that minimise your power bills.

The savings achieved by solar panels in homes depend on many factors. First of all, you should purchase high-quality solar equipment, while getting a professional installation. This way, the solar system will reduce your power bills for decades, while operating safely. Solar panels also need a suitable area that is not covered by shadows, and the system must be sized properly for the energy needs of your home.

A professional solar design and installation is guaranteed when working with a qualified provider like Instyle Solar. However, solar savings are also affected by your electricity plan, and finding the best option can be a challenge. The wrong plan may lose you thousands of dollars over time, even when using the best solar panels in the market. To help homeowners solve this problem, Solar Analytics has developed the Plan Optimiser – a smart tool that recommends electricity plans that minimise your power bills.

How the plan optimiser helps you save on power bills

Solar Analytics is a leading energy management solution for solar owners. The software can create an accurate profile of your energy consumption, by keeping track of:

  • Total electricity generated by your solar
  • Home energy consumption
  • Solar electricity stored in batteries and used later
  • Electricity consumed from the grid
  • Solar generation exported to the grid

Solar Analytics knows exactly how energy is used in your home, and how your appliances interact with your solar panels. Using this information, the Plan Optimiser can simulate your power bill under each of the electricity plans available. Once the cheapest option has been found, Solar Analytics recommends you that electricity plan. 

Thanks to the Plan Optimiser, you can investigate several electricity plans without actually signing up for them. When the software finds the plan that minimises your quarterly bills, you can contact the electricity retailer who offers it.

Why are electricity plans so confusing in Australia?

Australia has a competitive energy market, which means you can choose your electricity provider and plan. However, this also means there are multiple options in the market, and their tariffs and conditions can cause confusion.

  • Some electricity plans charge you a fixed kilowatt-hour price, while others charge a time-of-use tariff that varies during the day.
  • There are also fixed charges, which apply regardless of how much energy you consume.
  • The feed-in tariff for solar owners also varies depending on the electricity plan.

Some electricity plans have conditions that seem favourable, but you end up spending more on power bills. For example, an electricity plan may advertise a high feed-in tariff for solar owners. However, when you look at the tariff carefully, you may find that the provider charges a very high kWh price at night. This negates the benefit of the solar FIT, since you’re paying it back at night!

Solar Analytics gathers plenty of energy data for your home, and the new Plan Optimiser can calculate how much you would pay with other electricity plans.

  • Instead of finding the best option by trial and error (which can be very expensive and time consuming) you can simply use the suggested plans.
  • All recommendations are based on your solar generation and home consumption data for the last three months, which is gathered by Solar Analytics.

Since electricity plans are constantly being changed, Solar Analytics updates their information each month. If the Plan Optimiser finds a better option based on the latest data, the previous recommendation will be updated.

How much can I save with another electricity plan?

The Solar Analytics Plan Optimiser is available from August 23, 2021. However, there was a trial with New South Wales customers before the official launch, and the results were very promising:

  • 70% of consumers who participated in the trial can save on power bills, simply by switching to a better electricity plan.
  • On average, homes can save $400 per year by changing their electricity plans.
  • In some cases, consumers can save thousands of dollars by switching.

The Plan Optimiser is initially offered in New South Wales, South Australia, Tasmania, Victoria and Southern Queensland. The tool is available at no extra cost for Solar Analytics users who have an active subscription.

For more, visit our blog.

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