The answer appeared to be a resounding “yes”. As many Australians are left reeling by July 1 electricity increases, solar power owners – like Victorian Anthony Beckett – are laughing all the way to the bank.

In an interview for the 7pm Project, Mr Beckett revealed his quarterly bill to the cameras; because his system generates more power than he actually uses, he is over $1000 in credit with his energy company.

This is because the surplus energy generated by his system is fed back into the main grid, earning money under the solar feed-in tariff scheme.

“With the money that we are saving from not paying power bills, plus the amount of money that we’re earning from the extra energy we’re generating, we’ll have this system paid off in nearly five years,” Mr Beckett said.

The television show also reported that the cost of installing solar panels has reduced markedly in recent years – indeed, over the last 18 months, solar system prices have halved.

As the whole country works towards meeting the Federal Government’s Renewable Energy Target and reducing our carbon footprint, solar power has emerged as the best way for consumers to save money on energy at the same time as saving the planet.