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Are Solar Panels Worth the Investment?
Many casual observers will have noticed many roof tops festooned with solar panels in recent years, especially after the introduction of the Feed-in Tariff. Still though, for many the idea of solar panels generating electricity for the home is viewed with scepticism and so we ask, are solar panels really worth the investment?
As the fossil fuels that many of us rely on become scarcer it is becoming increasingly important for us to look for alternative sources of energy, like solar panels. Maybe it is time for homeowners across the country to take a serious look at solar PV panels particularly as the government are willing to pay for generating and sending power to the National Grid.
How does solar power work?
Solar panel electricity systems capture the sun’s energy via photovoltaic cells and these cells convert the sunlight into electricity which can be used around the home. Today’s solar PV panels are advanced enough to generate electricity even when it is cloudy but obviously, they work better when the sun is out.
Realistically, solar panels will not allow you to be self-sufficient all year round but it should be able to satisfy a significant proportion of your electricity needs.
How Much Will It Cost to Install?
The average domestic solar PV panel system is 3.5kWp and will cost around £7,000 with typical costs ranging from between £5,500 and £9,500. Brits have seen costs fall significantly over the last year and the market is extremely competitive so costs can vary.
How Much Will You Save?
A 3.5kWp system could generate you around 3,000kilowatt hours of electricity a year – to put this into perspective; this is around three quarters of a typical household’s needs.
If you qualify for the Feed-In Tariff, the government will pay you for the energy you generate with your solar installation. Plus you can save money by using the electricity you generate instead of having to buy it.
With the big energy providers increasing energy bills over the coming years, so many are securing their energy future with an investment in solar energy. Anglian Home and their upvc doors ensure that you can generate free energy for the future with the potential to earn up to £839 a year.
Should You Install Solar Panels?
When it comes to making a decision on solar panels, there are a couple of things that should be considered.
- What direction does your roof face?
- Where is your home?
- What is the size of the installation
South facing roofs in southern England deliver the best returns. They receive the best Feed-In Tariffs at 4kWp.
Adjusting each of these factors will impact the performance on what can be earned. The Energy Saving Trust has a calculator which will help to calculate the potential returns but it is important to discuss your options with experts.