What is the real cost of fitting solar panels?
Solar panels cost on average between £6,000 and £9,000 to install but the costs can differ for a number of reasons:
- The more electricity the system generates, the more it will cost.
- Whether you opt for PV panels or PV tiles - the latter is currently more expensive.
- Building in your panels versus sitting them atop your roof.
Generally, once installed solar systems need little maintenance and can last 25 years or more. Ensuring the system is maintained properly and that the panels themselves are kept clean and free of tree shadows will help.
As well as generating electricity for your own consumption, a big attraction of solar power is that it allows homeowners to benefit from so called ‘feed in tariffs’. These are payments made for each kWh of electricity generated by your system.
When doing your calculations about how cost effective solar panels could be, make sure to use up to date ‘feed in tariffs’.
In December last year the Government reduced the payment by 65% from 12.47p per kWh to 4.39p. This led to an almost 75% drop in new installations in the first part of 2016 compared with 2015.