What Are the Costs Involved in Installing Solar Panels?

The world we live in today is moving in the direction of renewable energy, as it should. I think there is no doubt that this is the way forward, but how can you make a difference? Can you be a part of the new green revolution happening right now?

In this article, I’m going to cover the costs associated with it, how it affects the value of your home, and any personal thoughts I have on the subject.

The UK has come a long way in solar power production, and currently, it ranks sixth in the world. This provides more opportunities for homeowners to embrace this as a way of lowering their electricity bills. It is much cheaper to install solar panels than it was three years ago so you will find the rates quite favourable. Read on to find out more about costs, pros, and cons of using solar panels.

How Much Do Solar Panels Cost?

About nine years ago, it would cost you an average of £20,000 to install solar panels, but this cost has reduced to less than half in the last couple of years. To get an approximation of how much it would cost you to install the panels, you need to know more about the types of panels available. You should also know approximately how many panels you will need and how much it would cost you to install them. The table below should guide you:

Size Number of Panels Power Output (kWh) Cost
15 mand less 8 2 £3,000 – £5,000
16 mto 21 m2 12 3 £4,000 – £6,000
22 mand more 16 4 £6,000 – £9,000

This is a base cost of average to premium quality basic panels without any special effects. If you would like any unique additions or types of panels, expect that the cost will be much higher than this. For example, solar tiles cost at least twice as much as the prices are given above. The installer charges are also not factored in here, and that will set you back around £350 to £500 depending on experience, location and certification.

There are some DIY solar packs that you can opt for to bring down the cost. These are even cheaper to install and should cost between £600 to around £4,000. They come with clear instructions on installation, but one of the most significant differences you will get is the lesser power output.

How Much Could You Save / Make?

Initially, it was easy to make your money back through the Feed-in Tariff (FIT) which paid customers that installed and generated solar energy. However, this was pulled down earlier in 2019, and they introduced a new system known as the Smart Export Guarantee (SEG).

With this new system in place, more people are encouraged to install solar panels since they can be paid for any units of unused power that is fed back into the grid. The system doesn’t have a set amount for the tariff, so it is up to your electricity provider to give you one. The good thing is that you have the option of selling to the highest bidder, but there is an expected average rate of 5.5p for each kilowatt you sell.

To qualify for the smart export system, you need professionally installed panels that will pass the standards of the Microgeneration Certification Scheme. If you choose to store the power and sell it later, then you should