Solar Panels: Are They Worth the Investment?

People seem to care more about things they never would have just five or ten years ago. It may be something technological, like the need to have the internet wherever they go, through their phone or portable computer.

It may be something about ecology, such as the desire to recycle and do something for the planet by reusing its materials. However, it may be both. Solar panels combine these issues – using the power of the sun and clever scientific trickery, these lower both your outgoings and your carbon footprint.

Still, is the initial purchase of photovoltaic cells (from companies like Evoenergy) worth the money? Obviously, if you’re interested in the idea of owning solar panels, only you will know if you have the capital to purchase the things you need, yet it’s worth considering the long-term benefits of panels. This is because they’re more of an investment than an outright purchase, so look over the following points to understand exactly what they can offer you.

Estimated Savings

Estimates put annual savings on electricity at around £140 per annum once solar energy from the panels is used up. It ultimately depends on how much you use and how many panels you have installed, though this rule of thumb is certainly worth bearing in mind.

Feed-In Tariff

However, there is also a feed-in tariff put in place by the government, which is currently set at 21p per kWh for electricity sold back to the National Grid. People are continuing to get their solar panels installed as quickly as possible in order to maintain this rate and make the most of the government offer.

Long Term Investment

Patience is a virtue with solar panels, so you must ensure that you remember that savings on electricity will be immediate but could take a few years to truly kick in and recoup the initial payment for the panels in the first place. Nonetheless, rising energy bills are highlighting how the installation of photovoltaic cells could only save you more and more on your electricity outgoings.

Ultimately, it’s a great investment if you plan on staying in your house for a few years, though it’s also worth remembering that new cells could add value to your home. Whatever you choose to do, solar panels are a good investment if you’ve got money up-front.