Are solar panels a good investment?

Last edited: 18/02/21

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Are solar panels a good investment?

Last edited: 18/02/21

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Are Solar Panels A Good Investment?

In the UK, solar panels have become increasingly popular renewable energy technology. According to the Department for Business, the UK generated 3.07% of its total electricity through solar power in 2016, but are solar panels a good investment?

Apart from being environmentally friendly, solar cells offer substantial savings on your electricity bill. And whilst there are certain drawbacks, the long-term pros of investing in some of the best solar panels far outweigh the cons. Below are some of the many reasons why placing solar panels on your roof can turn out to be a blessing.

Reduces electricity bills

By incorporating solar panels into your energy mix, you can save yourself from rising utility bills. This will notably cut your electricity bills. While utility costs continue to increase every year, having solar panels can assist you in reducing the impact. Remember that free electricity is generated from solar panels.

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Earns money back

The SEG (or smart export guarantee) allows you to make money by selling surplus energy back to the grid. This means that even small-scale solar PV generators will have the ability to earn money back from their investment. Therefore, besides reducing the utility bills, your investment in solar panels offers you a warranty for a state-backed income for the next few years.

Reduces your carbon footprint

Since solar energy is a renewable, clean source of energy, switching to it reduces your carbon footprint. In contrast to conventional electricity generators, solar power doesn’t release any harmful CO₂ (carbon dioxide) or other pollutants. According to estimates, 1 ton of CO₂ can be saved on an annual basis by solar panels for homes, which accounts for roughly 25 tons saved over its lifetime.

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Earns money back

Reduces your carbon footprint

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Offers you efficiency all year round

Solar panels work every day of the week, all year round. While their full potential is released in sunny months, they also generate a decent amount of electricity during the cloudy days and on winters.

Little to no maintenance

Often, solar panels don’t need servicing. While the inverter may need to be charged every 10 to 15 years, this is usually it when it comes to maintenance. Plus, the solar panels last long, with many receiving 20 years of warranty but keeps working for up to 40 years. However, it would help if you always keep the solar panels clean.

Independent of grid

Solar panels are perfect for remote areas where it would be expensive to extend power lines to connect with the electrical power grid. They are an effective and affordable solution for isolated homes in rural areas of the country.

With solar panels in place, you can become completely grid-independent and eliminate your electricity bills altogether.