Solar panels aren’t just a money-saver. They are a great means of reducing your carbon footprint and helping to aid the process in shifting from fossil fuels to more renewable sources.
However, realistically, the money side of solar energy is a huge incentive for many homeowners. While many people want to save the planet, they would also prefer to see a little more cash land in their pockets too.
So, if you are considering having some solar panels installed in your home, how much can you expect to save?
Where are you based?
One important piece of knowledge to note is that the price of a solar panel installation does not fluctuate.
The cost of the average solar panel for a domestic property is around £6,200 – and this is pretty much the established price.
It stays around the same total, whether you’re in London or up north, so you don’t need to worry too much about regional price differences in this regard.
The next biggest consideration, however, does revolve around where you are based in the country. While solar panels rely on photons to create electricity, and not heat, they do still benefit slightly more down south.
For example, the standard solar panel is around 2kWp, and this will create around 4,200-kWh a year if you are in the south of England. This is substantially more than if you were in Scotland, for example.
The very same system will generate slightly less at 3,400 kilowatt-hours per year. This is still substantial but is a decrease as a result of the north getting slightly less sunlight.
If you live on the south coast of England, for example, you can expect to make more savings than someone who lives up in the Shetland Islands.
However, if you do live up north, this should not dissuade you from investing in solar panels, as you do not have to live in California to reap the benefits.
For example, even as far up as Manchester in the United Kingdom, you could still save anywhere between £95 – £230 per year on electricity bills.
This really isn’t substantially different from London, wherein you could save between £100 – £240. When you consider that only £10-£50 could be at stake depending on the weather, this really isn’t a problematic difference.
Solar panels will allow you to earn & save up to £38,000 which far outweighs the initial cost of installing them.
There is an established amount for how much you can save on money per year with solar panels in the United Kingdom, and that is around the region of £90-£240, give or take your location.
The further north you are, the less you will save in immediate terms, but this amount is not substantial. The savings you should be concerned about are long-term ones – as well as the amount you slice off your electricity bills every year.
The amount you collectively save will see you pay back the cost of your solar panel, and ideally start to make a profit off it.