A home with solar panels sounds attractive. You receive free electricity from the sun, which can reduce your energy costs.
Experts claim that the country must reduce its carbon emissions, which are a fifth the UK’s, from powering and heating homes. This is crucial if it wants to be net zero by 2050.
It is becoming increasingly attractive to install solar panels in your home at a time when energy prices are rising and you want to do more for the environment. However, what are the advantages and disadvantages to installing solar panels — both financially and environmentally?
Consumers are becoming more conscious of the need for renewable or green energy. Citizens Advice recently revealed that two thirds of householders plan to make their homes more energy efficient within the next twelve month. NatWest, however, found that 55% homeowners have plans to make ecofriendly improvements to the property over the next ten years.
Solar and wind are currently the most affordable ways to produce electricity. Also, unlike traditional sources of energy, they don’t run dry. This is why it is so popular to install solar panels on roofs of homes. In the UK, there are approximately one million such systems. Although they are not inexpensive, over time they will help reduce your electricity bill and carbon footprint. Additionally, you’ll get paid for the additional energy you generate.
How do solar panel work?
Photovoltaics or solar electricity panels (also known as PV) capture sunlight, convert it into electricity and then feed into your home’s main electrical supply. A solar PV panel is composed of several cells that are constructed from layers of semiconductive material, most commonly silicon. A flow of electricity can be created when sunlight hits the panel. You can then generate your own renewable electricity.
Any appliances that are being used in your home at time of generation will be powered by electricity generated from your solar panel. You will be paid for any surplus electricity not being used.
While you might also see thermal solar panel when searching for solar panels, they are used only to heat water.
How much do solar panels cost?
This will depend on the choice of solar panel installers near me.
A single solar panel will cost you between PS350-PS500. A 4kWp system will be the most popular size for domestic use. It typically covers 29 square metres of roof and costs about PS6,000. According to Energy Saving Trust, a domestic system with solar power is about 3.5kWp. This includes VAT at 5%. This system is ideal for terraced houses as it will fit on a roof of around 15-20m2.
How much does solar panel installation cost?
Installation is a significant cost for solar panels. Energy Saving Trust (EST), however, recommends that you get estimates from at most three installers.
Share some of the costs of installation if you have scaffolding to repair your roof or if there are new construction costs. Costs will vary depending on whether you choose tiles or panels, as well as whether you install the panels directly onto your roof. Tiles are the most expensive option for an equivalent system, but panels that are placed on top of the roof will be the most affordable.
Can solar panels really help me save money on my electricity bill?
How long it takes for your solar panel system to pay off and whether or not you make any money from it will depend on how much electricity is generated and the cost of your solar PV system.
According to Mike Childs of Friends of the Earth’s science team, solar panels that are installed on the roofs of houses and buildings won’t provide much financial return for the first 20 or so years. He states that depending on where one lives and how much electricity they use, there are enormous environmental benefits. “The average person is responsible for 12.7 tonnes carbon emissions per year. Solar panels can help to save approximately 1 tonne carbon every year.
Can I make money with the energy generated by my solar panel?
If your solar PV system generates more electricity than you need, it will return the surplus to the national power grid. In January 2020, the Smart Export Guarantee (SEG), a program that pays electricity suppliers for every unit of power they export to the grid, was established. The feed-in tariff scheme that was previously in place was more generous but it was shut down for new customers at end March 2019.
You can choose the highest SEG tariff if you are selling electricity back into the national grid. This is independent from any contract you have with your local energy supplier.
SEG tariffs can either be fixed or adjustable. A fixed SEG Tariff will pay a predetermined rate per kWh for electricity exported over the duration of the contract. A variable SEG tariff will change the price depending on market demand. It is essential that prices never fall below zero
Solar Energy UK’s league table reveals which suppliers are offering the lowest rates. Ofgem also publishes an annual list of SEG licensees. For more information, you can contact an energy company for details about their tariffs.
The Energy Saving Trust estimates a London household could reduce its annual energy bill by saving around PS295 by installing solar panels. If there is someone home, it could also save PS90 by selling surplus energy under Smart Export Guarantee.
