Solar Panels: How Much Do They Cost and Are They Worth It?

Everyone likes the idea of having a home powered by renewable energy. But one thing that makes some people uncertain is the cost. Despite knowing that solar panels will save you money over time, many buyers are still put off by what they perceive as a big investment.

To clear things up, this post discusses the factors involved in solar panel costs and whether they’re worth it.

The most common solar panel

The first thing that affects cost is the type of solar panels being installed. Thankfully, you can get this one out of the way early. Monocrystalline solar panels are the most popular on the market today, giving 22-27% efficiency.

With an aesthetically pleasing black hue on their surface, they perform better in low levels of sunlight. And with the UK’s changeable weather, this could only be a good thing for your solar energy.

Number of solar panels

The cost of installing solar panels largely depends on the size of the installation. A  household of typically 3-4 people will need an average of 16 solar panels to meet their energy needs. Each panel will produce 250W of power so this would equate to a 4kW system.

Larger households could need up to 24 panels. Alternatively, it is possible to use fewer panels by installing higher-efficiency ones, though this will add to your overall costs.

What you are paying for

• Number of panels needed
• Brackets
• Solar inverter
• Cost of installation
• Cost of solar battery system (optional)

Are solar panels worth the money?

The answer to this question is not a simple yes or no. Remember, solar panels are an investment, which can pay for themselves in the long run. Here are some factors to consider when weighing up their value:

• Efficiency – this refers to the ability to convert sunlight to electricity. Studies have shown that 15% to 22% of solar energy can become usable energy in the home. Factors that affect these results include the type of panel weather conditions, placement, and the efficiency of the solar inverter.
• Encourage energy-saving measures – decreasing the amount of energy you need, and being efficient in how you use it, will mean solar panels could be a great, green choice for your home.
• Solar batteries – these batteries allow you to store energy to use at times when sunlight is low, for example, evenings, nights and dull winter days. You will also have the opportunity to sell your excess energy back to the National Grid through the Small Export Guarantee scheme. Solar batteries can end up saving you around half of your electricity bill. Lithium batteries, in particular, are also seen as safer and can store higher wattages, as well as having a smaller environmental footprint.
• Warranty and Guarantee – overall lifespan for solar panels is around 25 years. Most manufacturers give a limited power warranty of 25 years and a product warranty of 10 years. Battery warranties are roughly 5-15 years and inverters are between 5-10 years. Being covered for all components will give you peace of mind and save future costs.

Are solar panels for you?

Based in Nottingham, Hometec Systems has a wealth of experience in designing an aesthetically pleasing, functional, solar system for your home. Our specialist engineers can maximise the potential of your renewable energy and help you make savings over time.

If you would like to discuss your solar requirements, contact our friendly, professional team today.