Nick Pfitzner standing alongside his home solar system
Nick Pfitzner standing alongside his home solar system

New technology reduces power bill by 92% but there's a catch

IT'S the new technology set to save Australians thousands on their power bills and while the Tesla Powerwall may be costly, the technology's ability to slash your bill now appears to be proven. 

The Pfitzner family in the Hills district, in Sydney's northwestern suburbs, has become the first Aussie household to install the long awaited solar power system which uses batteries to store power generated by solar panels. 

And Choice reports Nick Pfitzner as saying installing the Powerwall reduced his bill from  $2289 to $178.71 - which equates to a saving of 92 per cent. 

"Before I crunched the numbers I was looking at what would be my return on investment. If it saved me 80% of my power bill, [I thought] it would be pretty good," he said.

"I really learned a lot about myself and how my house uses energy and how we can improve with solar now."

However The Australian newspaper reported the company which installed Mr Pfitzner's new system said he would have to wait about six years before realises a return on his investment, because the system costs as the system costs about $15,000 to install.