Are solar panels still worth the investment?
Almost 1.5 million UK homes have solar panels and are saving money and earning cash as a result. Solar panels are a significant investment, however, with the average cost for a three-bedroom home being around £7,000. If you are thinking about the cost versus the rewards, let’s help you decide whether solar panels are still worth investing in today.
Costing the options
Solar panels require a fairly substantial outlay; however, the prices are falling and there are financing options available. Grants may also be a possibility. Check out the Green Deal on the government website:
The amount you pay solar panel installers Bristol will depend on a range of factors, including how big your roof is, how much electricity you use, how many panels you want from companies such as https://redbridgeandsons, and whether you want a solar battery.
Financial rewards
Solar panels can be a valuable long-term investment, saving the average home between £270 and £640 every year on electricity bills. Again, factors such as your consumption and home size will influence your exact savings, as will variables such as the efficiency level of your solar panels and your daytime energy usage.
Calculations suggest that the average household should recoup the cost of their solar panel installation in around 15.5 years. This may be seen as quite a long time; however, you should take into consideration the fact that solar panels should still last an average of another decade after this time. This could result in a profit of more than £4,000 for an average three-bed home, based on SEG (Smart Export Guarantee) revenues and bill savings.
Bright future for solar energy
Future incentives may also come into play after the Labour’s secretary of state for net zero and energy security, Ed Miliband, pledged to see a solar ‘rooftop revolution’. Ministers want to make buying new properties with solar panels more accessible to tackle the climate crisis and reduce domestic energy bills. He also, somewhat controversially, approved three enormous solar farms that had previously been blocked by Conservative ministers.
