Especially in sunny Australia, solar energy can help you reduce running costs dramatically. A number of factors must be taken into account to determine how much money can be saved by using solar energy: The average amount of energy you use Typical usage patterns The feed-in tariff rate you chose Installing a solar panel system of the appropriate size Your location Here are the approximate stats:-Installing an 8kW solar system can cut up to $3,400 off your total yearly expenses and lower the amount you pay per quarterly electric bill by as much as $850 each time around.