Solar panel costs
When considering the acquisition of solar panels it is not surprising that one of the first questions to be asked is what a solar panel costs? There is no single answer to the question as the cost is dependent of the circumstances at each building that they are to be fixed at.
There are two elements to be considered one is the cost of the units themselves an the cost of installing them. As this is not a do it yourself operation it is essential to obtain prices from specialists from the outset who will price the overall job based on the circumstances found.
The cost of solar panels is dropping all the time as the government seeks to help people stay warm and lower the carbon footprint of the country. Manufacturing and materials costs are also dropping which is good news for anybody.
In order to have an indicative figure of the likely costs involved the following gives an idea as to how the price is arrived at.
Most homes will require an installation that can produce two or three kW of energy. To decide on the size and type of system required you need to know the amount of electricity units (kWh) that are being consumed by your household per annum so you can make sure that the system chosen will meet your household needs. You will also need to know the size in square metres of your roof.
The installer will suggest a size and number of panels to match the space available on the roof of the building and to ensure that the energy needs of the household is met. You can expect them to cost anything between £2,500 and £3,500 per kW., however installers charge different prices for their installation services and it’s important to ensure they are accredited to qualify for the Feed In Tariff. The best way to judge is to get several quotes and compare.
There are websites online that can give you an estimate on your solar panel installation costs if you know the size of your house roof. Once you know this – even roughly – you can get an idea of how many panels will be needed and how much the installation will be.
It is important to bear in mind that the installation of solar panels may involve other costs not readily apparent.
Solar panels are designed to withstand climate changes including heavy snow, frost and wind and continue to function properly. However, some maintenance is required to keep them performing to their maximum capabilities. From time to time they will need to be cleaned and whilst minimal the cost should be borne in mind.
You will need to include your solar system on your house insurance policy and this may make a difference to the current payments.
In some circumstances depending where you live planning permission may be required. Is so a planning application fee will be charged by the local authority.
Until now we have considered the outlay that might be necessary to install solar panels but there is good news in that this cost is reduced significantly by the savings to be made from its installation.
Once the installation is complete you will benefit from the Government backed 'Feed in tariff scheme' which gives you a subsidy for any excess electricity produced. You can expect to recoup the initial investment within 8-10 years after which you will be making a profit from the income received. Throughout this period you will also be benefiting from savings on your electricity bill. If you view it as providing you with a return of around 9%, you can see that the installation of solar panels offers more of an investment than a cost.