Spend money on solar panels

How much can you save with solar panels?

How much you can save on your energy bills with solar panels depends on a few factors, including: the size of your solar panel system, the amount of energy your household normally uses, and the cost of electricity in your area. As sunlight is a free resource, a typical solar panel system can save you around 50-70% on your electricity bills.

Can you make money from solar panels?

Plus, you can actually make money from your solar panels. When your panels generate more electricity than your household can use, this excess electricity can be exported to the grid to be used by others. And as long as both you and your supplier are signed up to the Smart Export Guarantee (SEG), you’ll be paid for that surplus electricity.

How can a solar system save money?

You can cut the time your solar system takes to pay for itself by finding the best SEG tariff rate, so you get paid more for electricity you produce, and by maximising how much electricity you use (eg. to run appliances) while the sun is up. Find out how much you could earn with the Smart Export Guarantee.

How much do solar panels cost?

The price of a typical 3.5 kilowatt-peak PV solar panel system is about £7,000. Based on the Energy Saving Trust's figures, it could take someone living in the middle of the country, in a typical home, anywhere between 12 and 17 years to recoup the costs of installing panels, based on current Energy Price Cap rates.

Are solar panels worth the money if you move home?

Generally, it’s considered that solar panels take around 11 years to recoup the upfront cost. While this may reduce in the face of rising energy bills, you should still consider carefully whether they are worth the money if you plan on moving home within this time frame. It always helps to have a financial expert on your side.

Is it worth getting solar panels in the UK?

It’s definitely worth getting solar panels in the UK. The UK isn’t especially sunny, but it receives more than enough daylight to save households hundreds of pounds per year on their electricity bills – and what you don’t use, you can sell to the grid.