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How Much Do Solar Panels Cost?

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Across the UK, solar panels are becoming the go-to choice for many homeowners looking to make their lives more sustainable.

If you’re considering making the switch to solar, understanding the financial investment is a crucial first step. The cost of solar panels can be shrouded in mystery, but fear not, we’re here to shed some light on the subject.

The journey to harnessing the power of the sun begins with a simple question: How much does it actually cost to go solar?

Key Takeaways

  • Benefits fo installing solar panels
  • Calculating the cost of solar panels
    • Initial investment
    • Installation costs
    • Return on investment
  • Factors to consider when choosing solar panels
    • Roof space
    • Panel type
    • Batteries for excess energy storage

Benefits of Installing Solar Panels

Solar Energy Output Diagram

Installing solar panels on your home not only allows you to generate your own clean electricity but also offers a range of other benefits. By harnessing the power of the sun, you can significantly reduce your carbon footprint, making a positive impact on the environment. Solar panels convert sunlight into energy, providing a sustainable and renewable source of power for your household activities.

One of the major advantages of solar panels is the potential to save on energy bills. By generating your own electricity, you can reduce or even eliminate your reliance on the grid, leading to substantial savings in the long run. Depending on factors such as your location and the size of your solar panel system, you may be able to produce enough energy to offset your electricity consumption.

Calculating Cost

Solar Energy Output Diagram

Calculating the cost of solar panels involves several factors, such as:

  • The size of the system
  • The type of panels you choose
  • The installation

Let’s take a look at these points in a bit more detail.

Initial Investment

When considering solar panel installation, the initial investment is an important factor to consider. The cost of installing a solar panel system varies depending on various factors such as the size of the system, type of panels, and location.

For example, a standard 3.5kW solar panel system would typically require around 10 solar panels (at 350 W each) and cost between £7,000 and £10,000.

The price per panel can also vary depending on the type of panels chosen. Monocrystalline panels, known for their higher efficiency and durability, are roughly 20% more expensive than polycrystalline panels. On average, monocrystalline solar panels cost £395 per square metre (m²), while Polycrystalline panels cost around £325 per m².

It’s important to note that the upfront cost of installing solar panels is offset by long-term energy savings and the potential to generate excess electricity that can be sold back to the grid, resulting in a return on investment over time.

Installation Costs

Installation costs for solar panels can vary depending on several factors. One key factor is the size and accessibility of the roof. A larger roof area tends to have a larger solar panel system and, while this is not necessary, it will increase the overall cost of the installation. Similarly, if the roof is difficult to access or has limited space for panels, additional equipment or structural modifications may be needed, further adding to the installation cost.

The complexity of the installation can also impact the overall cost. If the electrical system needs to be upgraded or if there are structural issues that need to be addressed, the installation cost will likely be higher. In some cases, roofing materials may need to be replaced or reinforced to support the weight of the panels, which can also add to the expense.

Labour costs and the number of installers needed on the job will also impact the overall cost of installation. Labour costs vary from company to company, so make sure you shop around for the right price. Or, get in touch with our teams today for a quote!

Return on Investment

Return on investment (ROI) should be a big part of your decision if you’re considering upgrading your home with a solar panel system. It helps determine the financial viability of the investment and how long it will take to recoup the initial costs.

Several key factors impact ROI for solar panels. Firstly, energy savings play a significant role. As solar panels generate electricity, homeowners can reduce their reliance on the grid and lower their utility bills. The amount saved and whether it’s a worthwhile investment, depends on the system’s capacity and the household’s energy consumption.

Secondly, government incentives like solar tax credits can significantly impact ROI. These incentives reduce the upfront costs, making solar installations more affordable and accelerating the payback period.

Did you know, Grant Store can help you secure funding via solar grants?

Excess electricity can also be exported to the grid and generate you additional income. Through net metering or feed-in tariffs, homeowners can sell the surplus electricity they produce, further reducing the payback period.

How much could you save?

  • Save 70% on average on your electricity bills
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Factors to Consider When Choosing Solar Panels

When choosing solar panels, several factors need to be considered to ensure maximum efficiency and return on investment. The type of panel, energy production potential, and evaluation of electricity prices are all crucial considerations.

Roof Space Needed for Installation

Solar Energy Output Diagram

When considering the installation of solar panels, one important factor to take into account is the amount of roof space needed. The size of the panels and the desired capacity of the system will determine the required roof area.

It’s important to note that the amount of usable roof space can vary from house to house. Factors such as obstructions like chimneys or roof windows, as well as the shape and orientation of the roof, can impact the available space for solar panels. Therefore, homeowners should consider their specific roof dimensions and any potential limitations when planning for solar panel installation.

Type of Panel (Monocrystalline or Polycrystalline)

Solar Energy Output Diagram

When it comes to solar panels, there are two main types to choose from: monocrystalline and polycrystalline. Each type has its own unique characteristics, including cost and efficiency.

Monocrystalline solar panels are known for their high efficiency. They are made from a single crystal structure, which allows them to generate more electricity compared to polycrystalline panels. However, this higher efficiency comes at a higher cost. On average, monocrystalline panels are more expensive than polycrystalline panels.

On the other hand, polycrystalline solar panels are more affordable but have slightly lower efficiency. They are made from multiple crystal structures, which can lead to a decrease in overall performance. However, their lower cost makes them a popular choice for homeowners looking for a more budget-friendly option.

There is also a third type of solar panel called thin-film panels. These panels have a higher surface area requirement but are generally less expensive. However, their efficiency is lower compared to monocrystalline and polycrystalline panels.

Find out how solar panels work here.

Excess Energy Storage with Batteries

Solar Energy Output Diagram

Surplus energy storage with batteries plays a big role in a solar panel system, providing numerous benefits for homeowners. When solar panels generate more energy than is needed at a particular moment, batteries allow for the storage of this unused electricity for future use. Additionally, homeowners can choose to sell this excess electricity back to the grid, further optimising their energy generation.

The importance of solar batteries lies in their ability to increase self-sufficiency. By storing excess electricity, homeowners can rely on their own generated power during times when sun exposure is limited or demand is high. This reduces reliance on the National Grid and helps homeowners maintain a consistent power supply.

Moreover, using batteries in a solar panel system allows homeowners to take full advantage of their energy generation. By storing excess energy, it can be used during peak demand periods, reducing the need for purchasing electricity from the grid at higher prices. This can result in significant energy cost savings over time.

Read our latest guide: How do you store solar energy?

Solar Panel Systems with Grant Store

Investing in a solar panel system isn’t just a step towards a more sustainable lifestyle; it’s also a smart financial decision in the long run as the potential savings will benefit you for years to come. That being said, we understand it’s a big decision. That’s why we’re committed to standing by you every step of the way.

Our expertise in the industry, paired with a dedication to top-notch service, makes us the go-to company for all your solar energy needs. We take pride in tailoring solutions that are not only cost-effective but also environmentally conscious, ensuring that your transition to solar is smooth sailing.