Do Solar Panels Save Money?

With the cost-of-living wreaking havoc across many people’s lives, people are looking for new ways to reduce at-home costs through the installation of eco-friendly technologies. One of the most popular are solar panels, enabling people to generate their own energy through installing them on the roofs of their homes or back gardens. Of course, solar panels are not cheap to install, leaving the question ‘do solar panels save money?’ lingering. In our latest article, we’re investigating the solar panels savings available.

Solar Panels Savings

More and more people are choosing to install solar panels to their home to reap the advantages of solar energy, helping to reduce monthly bill costs and become more self-efficient as the cost of everything around us continues to rise. Of course, solar panels come at an initial cost with the average set up costing anywhere between £2,500 and £8,000 including the manual labour that is carried out during its installation. Whilst these figures are high, the total cost of your own solar panel system installation widely depends on the panels you select and roof size, giving you more control over how much you spend. However, it’s the money you can save in the long run makes this splurge much more justifiable.

How Much Do Solar Panels Save?

Solar panels are a leading renewable energy source, providing more households across the country the chance to produce their own solar energy that can be used to heat their homes and more. Combining solar panels with electric radiators can make your home more eco-friendly as well. But it’s not just creating your own energy that makes installing solar panels sound so appealing. Rising electricity bills are at the forefront of many of our minds right now but through installing solar panels in your home, you can cut the costs of your bills, leaving you with more money to enjoy.

Solar panels also come with very little maintenance, making the initial cost much easier on the eye and bank balance. It’s recommended to clean your solar panels at least every six months which can cost anywhere between £4 and £15 per panel depending on what company you select however you can also give it a go yourself at home with biodegradable soap and a soft towel for free.

Experts still recommend arranging a solar panel inspection with your company of choice once a year to ensure your panels are operating to the best of their ability through reviewing the grounding system, solar wiring and more. By getting these elements of your solar set up checked, you can increase the life efficiency of your solar panels, helping to prevent the need for further costs.

In terms of how much solar panels will save you, this again depends on the size of your property and number of panels you have installed. However, on average, families save between £300-£500 per year on their annual energy bill meaning that you can pay off the installation cost by year 5 based on a £2,500 set up and installation fee. From then on, that monies yours.

With the rising energy costs not looking to slow down anytime soon, solar panels are a great option for families struggling to keep up with the unknown, providing some guaranteed relief and greater control over the energy used at home.

How Much Will Solar Panels Save Me?

Solar energy is on the rise, with households favouring lower energy bills and the ability to control their electricity in turn for an upfront installation cost. However, it’s also important to note that solar energy has many other benefits aside from the ability to save money. Interestingly, installing solar panels in your home also increases its value, making them a much bigger investment than they appear to be. A recent study revealed that the average properties value increases by £32,459 in the UK, with property value rising by a further £58,000 to £90,000 in London. As part of this, you’ll naturally increase your properties EPC score, helping to attract more buyers if the time comes to sell or move.

Solar panels are a huge thing, helping people and businesses save money by reducing their energy bills and enhancing their properties value which is beneficial from installation. With the rising costs around us, installing solar panels in the home has become a no brainer for many families, with people willing to swallow the upfront installation cost for the long-term gains.

For more information about the benefits of renewable energy, get in touch with our expert sales team on 0800 876 6813 today.