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if you are doing math Are solar panels worth it For your home, you are in the right place. Most homeowners invest in solar power to save on energy bills and achieve long-term independence from the grid. but also with best solar panelsCalculating the real return on investment may seem complicated.
In this guide, we explain how much solar panels can save you – immediately and over time – and what factors affect your payback period. Savings depend on you cost of solar panelsenergy use patterns, and whether you benefit from export payments or solar panel grant,
On average, UK households recoup their costs in 8-13 years, depending on system size, roof orientation, location and how much electricity they use during daylight hours. Once paid for, solar panels can provide low-cost or even free electricity for 15 years or more, something few other home upgrades can match.
How much can solar panels save on energy bills?
How much energy your solar panels produce depends on the size of the system you install, but the table below shows typical outputs for different system sizes.
There are too many variables to account for. In the table, we use an address in London, assuming a family of three and normal use (no heat pumps, high daytime use or electric car charging).
Other assumptions include no shading on the panels, no one at home using electricity about half the day, and export rates such as Octopus’s 15p per kWh outgoing Octopus tariff. Apart from the new inverter, no other maintenance costs are considered, and savings are used instead of debt. The terrace faces approximately south-east.
A lot will depend on what price you get for your exported electricity. Tariffs vary widely. However, if you keep on top of things, you should be able to get a rate of 15p per kilowatt hour used below.
Do solar panels work on cloudy days – and does this affect how much they save?
Yes they do. Modern panels work well in most climates, although their efficiency is reduced in cloudy conditions. Direct sun will provide the most power. As you can imagine, you get less power at dusk and dawn, and zero at night.
How much can solar panels save on your electricity bill?
|
household size |
System size in kilowatts |
array cost |
Cost of electricity per year before solar power |
Savings (energy used and sold from panels) |
price after solar |
then pays for itself |
|
3-bed |
3.6 KW |
£4,990 |
2,900 kWh @24.5 pence = £710 |
£540 |
£170 |
9 years |
|
4 beds |
5.4 KW |
£5,470 |
2,900 kWh @24.5 pence = £710 |
£780 |
-£70 |
7 years |
|
5-bed+ |
9.9 KW |
£7,390 |
2,900 kWh @24.5 pence = £710 |
£1,370 |
– £660 |
5 years |
As you can see, with a larger system you can make savings immediately. There are, of course, many variables to consider when calculating how much solar panels can save, but with a 5.4kW system you can potentially cover most of your annual electricity use and even generate a modest surplus – under ideal circumstances, around £70 per year.
Naturally these numbers will vary from year to year. Sunny years will give you better returns when you use more of your power. Shorter sunshine periods and using more grid power means it will take longer to recoup your money.
So, how much do solar panels realistically save? It depends on your usage, location and how much energy you are able to consume during the day.
These numbers also depend on there being no downtime. If your inverter breaks and you don’t notice for a few days, those are days lost when electricity is not being used or stored.
Luckily the Energy Saving Trust has a neat tool you can use to find out how much you could save and how long it would take To recoup your investment,
Do Solar Batteries Add Up, How Much Do Solar Panels Save You?
For many people, the problem with solar energy is that the energy is available during the day when it is not usually needed as much. Using Solar Panels to charge the batteryWhich provides power to your lighting, heating and appliances in the evening might be a good idea. A solar battery can increase the savings of your solar panels, especially if you are out often during the day and use more electricity in the evening.
Battery systems typically have a shorter lifespan than solar panels and can add up to 50 percent to the total cost of installation.
If you want to go off the grid, batteries are a good idea. As a purely money-saving investment, they are hard to justify from a financial perspective.
If you can get a good rate by selling your unused energy to the grid and you don’t mind switching to get the best deal for it, it may be best to wait until battery prices drop further.