What’s the most affordable method to get photo voltaic panels and are they value it?

When it involves including inexperienced know-how upgrades to their properties, as a rule the primary port of name for owners is photo voltaic panels.

Homes throughout the nation have been fitted with photovoltaic cells, and there may be little signal that uptake will cease. 

In reality, photo voltaic panel installations have hit a seven-year excessive, with 161,494 panels put in on properties in 2023, growing 44.6 per cent from the 12 months earlier than.

Since 2010, the price of photo voltaic panels has tumbled massively, which means that the know-how is extra accessible than ever.

Despite their obvious reputation, nonetheless, solely simply over 4 per cent of the UK’s 29 million properties have been fitted with photo voltaic know-how.

We spoke to 2 inexperienced power specialists to make clear whether or not photo voltaic panels are well worth the funding.

How do photo voltaic panels work?

Solar panels harness radiation from the solar, turning it into electrical energy utilizing a course of referred to as the photovoltaic impact.

‘When daylight hits the silicon [panels],’ Scott Duncan, head of photo voltaic and storage at OVO instructed This is Money, ‘it causes the electrons in them to begin shifting round – this motion creates electrical energy within the type of a direct present, which is then transformed into an alternating present. 

‘It is that this AC electrical energy that can be utilized to energy our properties.’

Solar thermal methods will also be used to provide sizzling water to your own home, even on a chilly day.

Making use of the solar’s mild radiation as an power supply reduces our reliance on non-renewable sources of power and might prevent lots of in your power payments in the long term.

Has the know-how improved in recent times?

‘Solar power effectivity has improved considerably within the final decade,’ based on Duncan.

He stated: ‘In simply over a decade, the typical photo voltaic cell effectivity has elevated from 15 per cent to 22 per cent – representing a giant soar in potential power invoice financial savings.’

The enhancements to photo voltaic cells have come within the type of improved designs, simpler supplies and higher manufacturing processes.

Simkins added: ‘Battery power storage is now fitted with the overwhelming majority of installations, permitting solar energy for use at any time when it’s wanted.’

Duncan agreed, mentioning that battery prices fell 14 per cent in 2023.

‘Increasing numbers of shoppers select a battery with their photo voltaic panels – with out one, you both use electrical energy as you generate it, otherwise you export it again to the grid,’ he stated.

‘Adding a battery will imply including extra to the price of your set up, however it means you may retailer power and use it later when you may have larger want for it. 

‘So that in case you’re out at work in the course of the day you may profit out of your panels once you’re residence within the night.’

I haven’t got a south going through roof – does that matter?

In quick, no.

Over the course of a day, a south going through roof will obtain probably the most quantity of daylight, which means that photo voltaic panels mounted going through south can be simplest in producing power.

However, roofs fitted with panels that face east or west also can successfully generate power from the solar.

‘Considering how a lot costs have dropped over the previous decade, mixed with the excessive price of power, there may be an argument to easily put as many photo voltaic panels in your roof as you may,’ Gareth Simkins, senior communications advisor at Solar Energy UK instructed This is Money.

In reality, whereas the best positioning of photo voltaic panels is at a 41-degree slope on an unshaded south-facing roof, Duncan stated south-west and a south-east going through roofs will solely lose round 15 per cent effectivity in comparison with these going through instantly south.

‘Any respectable surveyor ought to be capable of speak you thru how the orientation, each vertically and from due south, will have an effect on the efficiency of a photo voltaic array in your roof,’ Duncan added.

What about feed-in tariffs?

The feed-in tariff initiative, which allowed these with photo voltaic panels to promote the inexperienced power they produced again to the National Grid, was scrapped by the Government in 2019.

The scheme had seen all power suppliers pay a hard and fast fee for the power that photo voltaic customers exported again to the grid.

Those who signed up prior the closure, will nonetheless be entitled to their 20 years of funds beneath the scheme.

Despite the top of the scheme, Simkin’s stated: ‘Solar energy continues to be an awesome shopper prospect, largely as a result of financial savings it affords in comparison with shopping for energy from the grid.’

With the scrap of the FiT scheme although, got here the introduction of the Smart Export Guarantee. 

This assure affords photo voltaic customers rewards primarily based on how a lot power they export again to the grid, with charges various relying in your power provider.

According to Duncan, virtually half of individuals do not know that you could nonetheless earn cash by promoting power again to the grid.

What’s the most affordable method to finance them?

While positive to convey down your power prices in the long term, solar energy would not come low cost, with the prices concerned making the greener choice inaccessible for a lot of.

On common, the panels will set you again £5,875, based on Barrows and Forrester.

However, financing plans have lately develop into out there from UK suppliers which may also help you unfold the price of set up.

‘Paying for a solar energy set up through finance is frequent within the US and the continent, however traditionally has not been frequent within the UK. 

‘Otovo and Sunsave are amongst these now providing it,’ Simkins stated.

Similarly, Ovo’s Duncan factors to the supplier’s zero per cent financing plan which permits prospects to unfold the set up price over three years.

A gaggle buying scheme provided by Solar Together, which is backed by numerous native councils, also can cut back prices by providing teams of residents extra aggressive costs for set up.

When trying to lower prices, chances are you’ll end up favouring a less expensive quote for set up. 

It is necessary, Simkins instructed This is Money, to keep away from cowboy merchants by ensuring ‘that your installer is registered with [standards body] MCS.’

‘MCS makes positive that installers are correctly educated and solely use merchandise accepted for security and efficiency,’ he stated.

Are there any grants out there?

Lower earnings households may very well be eligible for presidency grants, with the ECO4 scheme providing authorities funding for eco-friendly residence enhancements.

The scheme is open to individuals whose property has an EPC ranking of D,E,F or G. 

However, functions will not be accepted for band D properties, as power corporations can solely spend 15 per cent of their funding on these properties.

The Home Upgrade Grant can be out there for owners in England who do not use a gasoline boiler as their principal heating system and whose residence additionally has an EPC ranking between D and G.

Is a wise meter a should have with them?

The excellent news for those that choose to keep away from sensible meters, is that you do not want a wise meter put in to be able to have photo voltaic panels, though you would possibly want one to be able to qualify for the SEG charges provided by power suppliers.

‘It could be wise to get one,’ Simkins instructed This is Money.

‘They assist hold you monitor of the panels’ efficiency and make knowledgeable choices about your power use.’

Will they add worth to my residence?

Installing photo voltaic panels might add round £11,500 to the worth of your own home, based on Barrows and Forrester, making you a tidy revenue of round double your preliminary funding, whereas additionally lowering your power payments.

Simkins backed this, including that ‘analysis for its Value of Solar Property report discovered {that a} photo voltaic set up will increase the sale value of a house by greater than half the price of putting in it within the first place, even earlier than reductions in operating prices are thought-about.’

‘They additionally assist future-proof a house, by offering energy for electrical heating and automobile charging. For new properties, they’re more and more a shopper expectation and are anticipated to develop into obligatory beneath the Future Homes Standard.’

Duncan added: ‘Ovo’s knowledge additionally exhibits that increasingly potential consumers are prioritising inexperienced know-how installations of their seek for a house, which means there has by no means been a greater time to put money into inexperienced applied sciences like photo voltaic panels.’

Are photo voltaic panels value having?

The price concerned with putting in photo voltaic panels might make you suppose twice, however for a lot of, the outlay can be recouped over time.

On common, a house will use 2,700 kWh of power over the course of a 12 months, based on the specialists, which might be greater than lined by the three,180 kWh that may be produced by 12 photo voltaic panels put in on your own home, and go away you extra to promote again to the grid at through the SEG scheme.

But all of it is determined by how appropriate your own home is for photo voltaic panels. 

The rising reputation of the eco-friendly improve suggests an growing variety of individuals are capitalising on the know-how to convey down their power outgoings, presumably due to excessive price of power within the winter of 2022/23.

Simkins provides: ‘Well over one million photo voltaic households cannot be incorrect. Almost 190,000 small-scale rooftop installations have been made final 12 months, based on requirements physique MCS, which is a post-subsidy report,’ he stated.

‘With set up prices persevering with to come back down, and extra choices cropping as much as make the upfront funding extra accessible, rooftop photo voltaic panels are a extra compelling choice than ever earlier than as a renewable power answer within the UK,’ Duncan added.

Have you had a photo voltaic panels fitted in recent times? Let us know your expertise, good and dangerous. Or are you tempted, however have questions on set up? Get in contact: [email protected]