Are solar panels worth installing on my property?

Are Solar Panels Worth Installing on My Property?

April 14, 2017 2:46 pm Published by

Summer is just around the corner, so many homeowners may be thinking that now is a great time to consider investing in solar panels for their properties.

With energy bills continuing to rise and putting an extra strain on the finances of many households, any way to cut outgoings has to be worth thinking about. Solar panels are the most popular ways to cut overall electricity bills, but how do you know if they are the right choice for you?

Solar panel myths

It is a common myth that solar panels will only generate power when the sun is shining in the sky. This is simply untrue. While solar panels will clearly be more effective on a hot and sunny day, they will continue to generate electricity even on a cloudy day. Solar panels are around 50% more effective when the sun is out.

Many homeowners also think that the cost of having solar panels installed is prohibitive, but this is not the case either. In fact, most people will find that the money they spend on the installation of solar panels will be more than repaid in the form of feed-in tariffs in the long run.

Others may believe it is better to wait until tweaks have been made to solar power to make it more effective. But the technology used in solar panels has been around for decades.

Ideal conditions for solar panels

While the majority of homes could benefit from installing solar panels, certain conditions can have a big impact on how much electricity is going to be produced by the devices. For example, a roof that is south-facing is the best possible location for the installation of solar panels, as this will receive the most sun, and therefore generate the most power in the long term. The ideal solar panel installation sees the devices fitted at a pitch of 30 to 45 degrees. The roof should also be unshaded for most of the day. However, even if a roof is flat, shaded and not south-facing, solar panels will still be able to generate some electricity, they will just not produce as much power as if the conditions were perfect.

Are solar panels worth installing on my property, If yes how much can I make through solar panels?

Solar panels were extremely lucrative for a time, but the government then announced a cut to the feed-in tariff rate paid for generated energy. As a result, not quite as much money can be made through the installation of solar panels as previously, but they can prove to be a worthwhile investment in the right circumstances.

The tariff received depends on what the rate is when the panels are installed and this rate will then be fixed for the next 20 years. It, therefore, pays off to time the installation of solar panels carefully to get the best possible return. Contacting a series of local suppliers will ensure a homeowner gets the best possible price for installing solar panels, after which the energy supplier to the house should be contacted to arrange the feed-in payments that are due.

The installation of solar panels can cost up to around £10,000, but some companies offer to install them for free if they keep the feed-in tariffs that are paid. Generally speaking, by spending £7,000 to £10,000 on solar panels, homeowners can expect to receive about £12,500 over the 20-year period. The presence of solar panels could also make a home more appealing to potential buyers.

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