Solar Panels - Cheaper than you think to install

21/11/2022

Many of our recent customers have commented on how the price they paid for their solar PV panel system was a lot less than they were expecting. This is because material prices for solar panels have dropped considerable over the past 10 years.

Back in the early 2010s, it was common to spend around £12,000 - £15,000 for a domestic solar panel system, without battery storage. During this time, the UK Government offered their solar Feed-in Tariff (FIT), providing solar customers with generous reward payments, based on how much solar energy they produce. These payments, combined with electricity savings, helped to maintain a payback period of under ten years.

However, the FIT rate gradually decreased, until the Government abolished it completely in 2019. The lower, then disappearing, FIT rates unfortunately meant a longer payback period for solar panel customers. But....... this coincided with decreasing material prices, and many solar installers re-evaluated how much they charged for installation fees.

It is now possible to have a solar PV panel system installed at your house for as little as £6500, without storage, or under £10,000 for a system including solar battery storage. Additionally, there is currently zero VAT to pay on domestic solar panel installations, which helps to keep the costs down.

Most importantly, electricity prices have skyrocket over the past 6 months. The current average electricity price is around 50p/kWh, compared to around 14p 5 years ago. Lower material prices, combined with rising energy prices, mean that solar panels are still a worthwhile investment. You can also sell unused electricity back to the grid via the new Government Smart Export Guarantee scheme.

So if you are interested in getting solar panels, or are looking at ways to lower your energy bills, please get in touch with us for a free, no obligation quote. It might work out to be cheaper than you think.

One of our recent solar panel installations in Essex