Switching your home to solar energy is most definitely worth it.
The drive towards sustainable energy is part of the global bid to reach net zero for carbon emissions and the rise in popularity of solar panels forms a large part of that quest.
With the government stipulating that no new-build homes will be built with gas boilers from 2025, renewable sources like solar will come even further to the fore in the next few years.
And with the cost-of-living crisis currently gripping the UK be fuelled by energy price rises, cheaper renewable energy is becoming ever more popular with stretched homeowners.
How do solar panels work?
Solar panels work by converting the sun’s energy into electricity.
The panels are made from photovoltaic cells which sit between layers of silicon conducting material.
These layers are energised when light hits them and this creates a current which produces electricity.
This electricity is either then fed into the National Grid or used by the home the panels are attached to.
Why should you invest in solar panels for your home?
There are a whole host of reasons why solar panels could be a great investment for your home, including:
1. They’re a renewable energy source
As the world drives more towards renewable energy sources, the power of sunlight will be a key factor.
Solar panels use a completely renewable and eco-friendly source of power in sunlight and this means you’ll be playing your part in helping to reduce global carbon emissions.
2. They can reduce the cost of your energy bills
By using the energy your solar panels generate, it’s estimate you could save up to £500 a year on your electricity bills.
Not only that, but it’s also possible to sell the energy your panels generate to suppliers as excess energy – and this could mean up to £120 a year extra for you.
3. Insurance against rising energy costs
The biggest driver of the cost-of-living crisis in the UK has been rapidly increasing energy bills.
By installing solar panels, you’ll be protecting yourself against price rises in the future simply by producing and using your own energy through the sun.
4. Solar panel costs are getting cheaper
Traditionally, many people have been put off investing in solar panels simply because of the cost around installation.
However, as energy bills have risen, the cost of solar panels has dropped, meaning the numbers add up far better than they used to.
In fact, the price of panels has dropped by an estimated 88% since 2010, meaning you should expect to pay around £5,000 for the average 3.5kWp system.
VAT on solar panels is also currently at 0%, thanks to the government’s push towards sustainable energy sources.
5. They add value to your home
The current climate of rising energy bills and squeezed household budgets means buyers are placing a big emphasis on energy efficiency when considering homes to purchase.
In fact, 61% of those surveyed in the most recent RICS Residential Market Survey said energy efficient homes were holding their value better in the current market.
According to Money Supermarket, a property with an Energy Performance Certificate (EPC) rating of ‘A’ could be worth up to 14% more than a property with a ‘G’ rating.
6. Sustainable homes attract buyers
The energy crisis means buyers are becoming more attracted to homes which make use of renewable and sustainable energy sources like solar.
It’s estimated that 39% of potential buyers will now look for a sustainable, eco-friendly property that’s cheaper to run.
Also, 40% of people surveyed in the latest RICS Residential Market Survey said they were seeing more interest from buyers towards more energy efficient homes.
7. They can earn your money back
It’s estimated that solar panels can pay for themselves within 11 years, simply through the savings they make on your energy bills.
If you’re able to sell excess energy back to suppliers, too, this timeframe could be even shorter.
However, if you’re likely to sell your home within 10 years, you may not totally recoup what you pay to have a solar energy system installed.
8. They’re long lasting
Once your solar panels are installed and fully functioning, they require very little maintenance or even cleaning, with rain doing most of that work for you.
Most manufacturers also offer good warranties, so any problems will be covered.
Most solar systems are projected to last 25 years, while the inverter element, which converts the sun’s power into AC electricity, may need replacing after 10-12 years.
How much do solar panels cost?
The cost of an average solar energy system for a mid-terraced home with 20 square metres of roof space is around £5,500.
For other properties, the cost of installation varies depending on:
- The size of the property and its roof
- Restrictions in the local area
- Cost variations between suppliers
- The type of solar panels you wish to have installed
When weighing up quotes from suppliers, you should always ensure the quote includes:
- The solar panels and roof mounting system
- The inverter to convert DC energy to AC
- Scaffolding required
- Labour costs
- Connection and registration of your panels
How many solar panels do I need?
The average three-bedroom house would need 10 solar panels, while a larger, five-bedroom home may require up to 14.
How many panels your property can have will depend on its roof space, while a north facing roof may mean it’s less profitable.
