With energy bills going through the roof, you may be considering having Solar PV installed on your roof – a means of generating free and green electricity. And if you are, you wouldn’t be alone.
New government statistics published in June 2022 showed that 59% of homeowners would consider having solar PV on their roofs – that’s not even counting those who already have them installed (BEIS Public Attitudes Tracker – Spring 2022).
Since 2010, the cost of getting solar PV has fallen by 88% (UK Government, 2021).
With energy bills rising, we’re going to look at whether getting a solar PV array could save you, or even make you money, while also generating clean and green electricity for your home.
The cost of installing solar panels and payback are important factors to consider, but there are also significant carbon savings to be made by generating your own electricity at home.
Furthermore, generating your own electricity at home and using it there, will make you more resilient to future energy price spikes.
How much do they cost?
The average domestic solar PV system is 4.2kWp and costs around £6,500 to install (Energy Saving Trust).
But the cost can vary on how many panels you can fit on your roof and the cost of labour to install them.
For example, if your roof is hard to access it may take longer to install, increasing the cost.
You might also be interested in combining yours with a battery – they range between £1,200 and £6,000.
But with the added cost, you’ll need to factor in it will take even longer to pay it back.
A battery would allow you to store the electricity produced by the panels and use it later when the sun isn’t shining.
It’s all about when you use your energy
Getting the most out of your solar PV is all about when you use your electricity.
It’s most effective to use the electricity as it’s being generated – in daylight hours when the sun shines.
It doesn’t need to be super sunny for your panels to generate electricity, they do generate it even on overcast days.
Save up to £405 a year
If you can use the electricity while your panels are generating it will reduce your electricity bills.
The amount you can save depends on the size of your array, based on the estimated a typical household could save between £165 – £405 a year of energy bills at today’s prices (Energy Saving Trust, August 2022)
Sell your energy back to the grid?
If you aren’t in a position to use the power yourself, or you just want to make some extra money back, you could export it.
Any electricity generated by the panels on your roof is channelled back into the national energy grid.
This is done under the Smart Export Guarantee (SEG) – the replacement for the feed-in-tariff (FiT) which was more generous but hasn’t been ava
With the Smart Export Guarantee, you could not only generate free electricity for you and your family but sell any surplus energy you generate to the National Grid – as mentioned in one of our most popular blogs.
Installing renewable generation technology and signing up for a SEG tariff will help you use more renewable electricity and should help you save money on it in the long term.
It’s unlikely that you’ll be able to make money from the SEG to the extent that some solar panel owners initially could from the FIT.
This is because the SEG pays only for excess electricity put into the grid, rather than all the electricity that’s generated.
Save up to £110 extra a year by exporting your energy
Energy suppliers offer ‘tariffs’ to households which pay a set rate for each kilowatt hour (kWh) of electricity you generate from your solar PV – and don’t use yourself.
A typical household in the middle of the country could make between £80 and £110/year (based on a rate of 3.99p per kWh – The Energy Saving Trust).
How much you make depends on the energy company you sign up with.
Currently, Octopus Energy offers the highest tariff – 7.5p per kWh, but others offer similar rates too.
Solar Fact: Super hot days actually make solar PV panels work less effectively. It’s more about daylight hours than heat from the sun. Modern solar panels are designed to suffer less from hot temperatures, but they can still lose 10 per cent of their rated efficiency on hot days.
Are solar panels right for you?
If you’re at home all day using the energy you generate, it will take you less time to recoup the installation costs.
Based on the Energy Saving Trust figures, with a 4.2 kilowatt-peak solar array costing about £6,500: On average, you would recoup the installation costs in about 14 years, if you live in the middle of the country (northern homes get slightly less daylight, so where you live needs to be factored in.)
If you’re only home using electricity during the evenings, and don’t have a battery, it’s about 24 years until you would recoup the cost.
However, if this is the case, you could make more from the smart export guarantee (SEG) rather than the savings on your electricity bill.
Many factors influence how much you could make back, including where you live, the size and cost of your solar PV array, and the long-term security of government support schemes.
If you think solar PV could be right for your home, and you’d like to get other energy efficiency measures installed, get in touch with our team.
Transform your home into a solar home
Solar electricity is a green renewable energy that turns households into smart solar homes. We can take advantage of this clean energy-generating technology at Cosy Homes Oxfordshire.
If you’re thinking of installing solar PVs in your home and you live in Oxfordshire, our Free Plan Builder tool can help you build an energy efficiency plan for your home for free.
Simply put in your postcode and you’ll see everything we know about the current energy efficiency and performance of your home, based on existing data. Then, choose your budget and priorities and the Plan Builder will create a draft retrofit plan for your home – which you can edit to suit your needs.
GPT Rewrite
Title 1: “Let the Sun Save You Money: How Solar PV Can Brighten Your Energy Bills!”
Title 2: “Shine Bright with Solar Panels: Green Energy and Money Savings Await!”
Article:
Are you tired of soaring energy bills? Well, it’s time to turn to the power of the sun and consider installing Solar PV panels on your roof! Not only will you be generating clean and green electricity, but you might also save some serious cash. And guess what? You won’t be alone in this solar revolution!
According to recent government stats (BEIS Public Attitudes Tracker – Spring 2022), a whopping 59% of homeowners are keen on having solar PV panels. That’s a lot of sun-loving folks! And the best part is, the cost of solar PV has dropped by a staggering 88% since 2010 (thanks, UK Government!).
Now, let’s get to the important stuff: the money. How much will it cost you to install solar panels, and how long until you start seeing the savings? We’re here to shed some light on that.
On average, a domestic solar PV system with a capacity of 4.2kWp will cost you around £6,500 (Energy Saving Trust). But keep in mind that the total cost depends on factors like your roof space and installation complexity. If your roof is a bit tricky to access, it might take a bit longer to install, pushing up the cost. Oh, and have you considered adding a battery to store excess energy? They range from £1,200 to £6,000, but keep in mind that it will take longer to recoup the investment.
Now, let’s talk savings. The key is to use the electricity your panels generate during the sunny daylight hours. Even on cloudy days, your panels will still produce electricity. By using that power when it’s being generated, you can slash your electricity bills. At current prices, a typical household could save anywhere from £165 to £405 per year (Energy Saving Trust, August 2022). That’s a nice chunk of change!
But wait, there’s more! If you find yourself with surplus energy that you can’t use, don’t fret. You can sell it back to the grid through the Smart Export Guarantee (SEG). It’s like turning your home into a mini power plant! Energy suppliers offer tariffs that pay you for every kilowatt hour (kWh) of electricity you export. Depending on the energy company you choose, you could pocket an extra £80 to £110 per year (based on a rate of 3.99p per kWh, courtesy of The Energy Saving Trust). Hello, passive income!
Now, let’s address the burning question: how long until you start seeing a return on your investment? Well, that depends on a few factors. If you’re at home during the day and using the electricity you generate, you could recoup the installation costs in around 14 years (for folks living in the middle of the country). However, if you’re mostly an evening electricity user without a battery, it might take about 24 years. But fear not! Even if the savings take a bit longer, you can still make some extra dough through the SEG. It’s a win-win situation!
So, are solar panels the right fit for your home? Consider your energy usage habits, location, roof space, and the long-term government support available. But don’t stress! We’re here to help. If you live in sunny Oxfordshire and want to explore solar PV panels or other energy efficiency measures, our team at Cosy Homes Oxfordshire is ready to assist you.
Remember, it’s time to let the sun shine on your energy bills and transform your home into a solar-powered