If you’re considering going solar, the main question you probably have is: are solar panels worth it? For most people the answer is yes.
In this article we’re going to explain why solar panels are nearly always worth it, examining typical costs in the UK, payback periods and ROI, benefits, and how to maximise the value of solar power.
We install solar panels for both homeowners and businesses, so this is a question we hear all the time (and one we’re well placed to answer).
TL;DR – Yes, for most people
To get right to the point, we believe that solar panels are well worth installing for most homes in the UK. Upfront costs may appear substantial, but this investment is usually not prohibitive and, as well as benefiting the planet and cutting your carbon footprint, solar power delivers an impressive ROI and relatively short payback time (which we’ll get to shortly).
Solar panels also insulate you against rising energy costs, giving you a financial predictability for years to come that you just can’t get from grid electricity. And paired with a battery, solar can provide vital backup energy during power outages.
What are the typical costs in the UK?
Costs for solar panels vary depending on energy use and system size, but a domestic system costs on average £6,100. It’s worth noting that this is considerably cheaper than in recent years, thanks to developments in and availability of solar technology.
As well as giving you a clear idea of your energy bills for years or even decades to come, solar panels significantly reduce those bills. With low maintenance costs (for inspection, cleaning and repairs) this means you can spend less money on energy bills and keep more in the bank – or spend it on something more fun!
On top of this, once your savings have covered the initial investment in your solar system, you’re essentially generating electricity for free, so long as the energy you generate is all you need (some homes use a combination of solar and grid electricity). If you could significantly reduce or eliminate your electricity bills how much money would this free up for you? And, if you generate more energy than you need you can export it back to the grid and be paid for it under the Smart Export Guarantee (SEG).
What is the payback period and ROI?
Firstly, let’s be clear about exactly what a payback period is. It’s the length of time it takes for your savings on electricity bills to equal the initial investment you made in your solar energy system. And as with cost, the answer to how long this period would be for you is: it depends. However, it’s worth knowing that most homeowners break even within a decade.
It’s worth noting that smaller systems take longer to pay back than larger systems, because of the amount of energy they’re able to generate.
What are the biggest benefits of solar panels?
We’ve touched on a few of these already but let’s properly explore the advantages of going solar:
- Lower bills: Generating power with solar panels greatly reduces your electricity bills, saving you a predicted £190-£350 per year. After payback, you can effectively generate electricity for free (provided solar gives you all the electricity you need), and if you generate more than you need you can earn money by selling it back to the grid.
- Increased property value: Solar panels can boost your home’s value, making your property more attractive to environmentally conscious buyers and providing a solid return on investment.
- Environmental impact: By switching to clean, renewable energy, you’ll significantly reduce your household’s carbon footprint and contribute to fighting climate change – a typical home solar system saves around one ton of CO2 annually.
- Energy independence: Having your own power source reduces your reliance on the national grid and protects you from rising energy costs, giving you greater control over your household expenses for years to come.
When might solar not be worth it?
Despite all these benefits we’re not going to pretend that a home solar system is the right choice 100% of the time. There are certain factors that make it less suitable for your property, such as:
- Low energy usage: If your household uses very little electricity – perhaps you’re frequently away from home or have very energy-efficient appliances – the savings might not justify the upfront investment in a solar system.
- Shady location: If your roof is heavily shaded by trees, tall buildings, or other obstructions for most of the day, solar panels will be less effective at generating power. A completely shaded roof probably isn’t worth the investment.
- Unsuitable roof: Most roof types work well with solar panels, but certain roofing materials like thatch, asbestos cement, or very old slate may not be suitable. Additionally, if your roof needs significant repairs or replacement soon, it’s better to address those issues first.
How to maximise the value of solar
If you invest in solar power and want to make sure you make the most of it, there are a few things to consider:
- Smart Export Guarantee (SEG): The advantages of SEG are worth reiterating here: as well as significantly cutting your bills and carbon footprint with solar energy, you also have the option to sell excess electricity back to the grid, turning your system into a source of additional income for your household.
- Battery storage: When used with a solar panel system, battery storage lets you store excess energy generated during sunny days to use in the evening or during power cuts. This maximises your use of free solar electricity and provides backup power for essential appliances when the grid goes down.
- Smart energy management: Consider shifting energy-intensive activities like running the washing machine, dishwasher, or charging electric vehicles to daylight hours when your panels are generating the most power. This helps you use more of your free solar electricity directly.
- Proper maintenance: Properly installed solar panels should last somewhere between 25-30 years, but for them to work well for their entire lifetime they need to be well maintained. Maintenance isn’t expensive but it is important – solar systems need to be inspected and cleaned regularly, and repaired when inspections reveal any issues.
Final verdict – should you invest?
If your household uses very little energy, your property is on a heavily shaded site with no sun exposure, or you have an unsuitable roof, home solar panels might not be the best use of your money. However, for most other homeowners the answer is a big yes!
With reduced solar technology prices and various financing options available, a system is within financial reach for most households, and the benefits are substantial. If you want to significantly cut your electricity bills, reduce your carbon footprint, gain energy independence, and even create an income stream through excess energy sales, home solar panels are very much worth the investment.
The typical payback period of 6-10 years means you’ll enjoy decades of virtually free electricity, while also adding value to your property and doing your part for the environment. Get in touch today for a free, no-obligation quote.