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Are Solar Panels Worth It in the UK in 2021?
From helping you become grid independent all the way to actually making you money, there are plenty of reasons to consider installing solar panels at home. As we always talk about, solar panels absorb the sun’s energy to generate electricity for free, which can help reduce your electricity bills significantly. In addition, variables like solar panel grants, such as the Smart Export Guarantee, can further increase your savings and help you break even faster.
It’s worth knowing that Solar panel payments have been revamped and you now only get paid for any excess energy you generate find out more about the Smart Export Guarantee (SEG) here. For example, an average-sized home will spend approximately £4,000 – £8,000 on the solar power and battery system. You can expect to save roughly £270 on electricity bills annually, and together with the Smart Export Guarantee (SEG), you could reach the break-even point within 16-22 years.
In one of our recent blogs, we’ve discussed ways you can actually optimise your solar panels to get them to produce more energy. After all, there is nothing more frustrating than having your solar panels not produce the amount of energy you want them too. To maximise what your panels can make, you usually need a predominantly south-facing roof.
One thing that most will not know is that if you have solar panels this doesn’t lock you into your current energy provider. Your energy supplier doesn’t need to be the same as the supplier that pays you for solar-generated energy, you can switch whenever you please to find a better deal.
It’s also worth considering if you’re going to be moving home in the near future? Whilst some may feel that solar panels are an eyesore and could push your property value down, many will see it as a much more energy efficient home and therefore more attractive to those who are more concerned about saving on bills and their carbon footprint.
With this said savings depend on system size, electricity use, whether you’re at home during the day to use the energy you’re producing and other factors. If you’re lucky enough to be home all day, you’ll be using a lot more electricity, so the savings will be greater from using solar power you’re generating. You’ll make less from the smart export guarantee (SEG), but the electricity bill savings will outweigh this. On the flip, if you’re only at home in the evenings you could make more from the SEG than the savings on your electricity bill.
Put simply solar panels are worth it if you plan to stay in the same home for long enough to generate enough electricity for them to pay you back. If you’re thinking about installing solar panels, you’ll need to do the sums first. It’s all down to how much electricity you use and when. Monetary benefits aside, any solar panels are worth it for protecting the environment and reducing your carbon footprint.