As climate change and rising energy costs become increasingly pressing issues, many homeowners are exploring alternative energy sources to reduce their environmental impact and save money. Solar panels have emerged as a popular solution. Not only do they help reduce your energy bills, but they can also generate income. Plus, even on overcast days, solar panels can still produce some electricity, which is essential given the often dreary weather in the UK.
However, with an average cost of £7,000 for installation, it’s important to consider several factors to determine if the investment is worthwhile for you.
Financial Benefits of Solar Panels
Lower Energy Bills
One of the most immediate financial benefits of solar panels is the reduction in your electricity bills. By generating your own electricity, you decrease your reliance on the grid and lower your monthly energy costs. In many cases, homeowners see a significant decrease in their electricity bills, with some even eliminating them entirely. Savings depend on several factors, such as the system size, how much electricity you use and whether you are at home during the day.
In addition to this, under the smart export guarantee (SEG) scheme, households in Great Britain receive payments for the solar energy they “export”. This is the electricity that the solar panels generate but that you don’t use, which is then fed back into the national energy grid. Based on Energy Saving Trust (July 2024) estimates, a typical household with the SEG can save between £510 and £600 a year on their energy bills.
To maximise your savings, use most of your electricity while you are generating it. If you try to shift as much of your electricity use to when you are generating it i.e. in daylight hours, you will need to buy less from the grid.
Increase in Property Value
Solar panels can increase the value of your property. Studies have shown that homes with solar energy systems sell for more than those without. Buyers are often willing to pay a premium for a home with solar panels, knowing they’ll benefit from lower energy costs and a reduced carbon footprint.
A recent report by trade body Solar Energy UK revealed that homeowners who install solar panels can recoup some of their investment through a higher sale price. Analysing over five million property transactions, the report found that a typical home with solar panels could see an increase in price by at least £2,000. Furthermore, The Eco Experts estimate that solar panels could boost a property’s value by an average of up to 14%.
However, not all homes are suitable for solar panels. For example, north-facing roofs, or roofs that are shaded, are not a good option for solar panels as they do not get enough direct sunlight. South-facing roofs produce the maximum amount of electricity, but east- or west-facing roofs can also work well, as described in this blog post: ‘Optimising Solar Energy Efficiency with East-West Solar Panel Arrays‘.
Although solar panels are usually considered ‘permitted development’, so do not need planning permission, there are some properties that may not be suitable for solar installations, such as listed buildings, or properties within a conservation area. In these cases, you might need to get approval for your council’s building control team so it’s a good idea to check with your Local Authority. Additionally, if the roof is not in good enough condition to support the panels, an installation would not be possible without the repair work being done in advance.
This is why it is important to get a qualified solar installer with a good reputation and years of experience assessing roofs to survey whether your roof has good potential to generate solar power. Sunlit Solar perform a site survey before any installation so that customers know what the costs and potential gains are before they commit to any purchase.
Government Incentives and Rebates
Many governments offer financial incentives and rebates for solar panel installations. These incentives can help offset the initial costs and make solar energy more affordable. For example, tax credits, rebates and net metering policies can significantly reduce the payback period and enhance the return on investment.
Long-Term Savings
While the initial investment in solar panels can be substantial, the long-term savings are considerable. Solar panels have a typical lifespan of 25-30 years, and once they are installed, your electricity is essentially free after the system is paid off. This long-term financial benefit can be substantial, especially as energy prices continue to rise.
Energy Independence
Solar panels provide a degree of energy independence by allowing you to generate your own electricity. This can protect you from fluctuating energy prices and supply disruptions. Additionally, with battery storage solutions, you can store excess energy for use during power outages, night time or cloudy days, further enhancing your energy security.
Environmental Benefits of Solar Panels
Solar panels do not just bring your financial benefits – they benefit the environment too.
Reduces Carbon Footprint
Solar panels generate electricity without emitting harmful greenhouse gases. Unlike fossil fuels, which release carbon dioxide (CO2) and other pollutants, solar energy is clean and renewable. By switching to solar power, you can significantly reduce your carbon footprint and contribute to combating climate change. For every kilowatt-hour (kWh) of solar energy produced, you’re helping prevent the release of about 0.2 kilograms of CO2 (ITP Energised 2023), which adds up to substantial environmental benefits over time.
Conserves Natural Resources
Solar power harnesses energy from the sun, which is an abundant and renewable resource. Unlike coal, oil or natural gas, solar energy doesn’t deplete finite resources or cause environmental degradation during extraction and processing. By investing in solar panels, you’re supporting the transition to a more sustainable energy system and helping conserve the Earth’s natural resources.
Reduces Air and Water Pollution
Traditional electricity generation methods, such as coal and natural gas, contribute to air and water pollution. Solar panels, on the other hand, have no direct emissions and require minimal water for operation. This reduction in pollution helps protect ecosystems, wildlife and human health, contributing to a cleaner, healthier planet.
Conclusion
Solar panels offer a range of environmental and financial benefits that make them a worthwhile investment for many homeowners. From reducing your carbon footprint and conserving natural resources to lowering your energy bills and increasing your property value, the advantages of solar power are clear.
If you’re considering making the switch to solar, it’s important to evaluate your specific needs and assess the potential savings and incentives available in your area. Consulting with a professional solar installer, such as Sunlit Solar, can help you make an informed decision and ensure that you maximise the benefits of your solar energy system.
In summary, solar panels are not only a smart choice for your wallet but also a positive step towards a more sustainable future. Are they worth it? For many, the answer is a resounding yes.
Ready to explore solar options for your home? Contact us today to learn more about how solar panels can benefit you and the environment! 🌞🔋
Phone: 01458 834 936
Email: info@sunlit-solar.co.uk
#SolarPanels #Sustainability #CleanEnergy #FinancialSavings #GoSolar