Are solar panels worth it?

The pros of solar panels are immense, and if you can afford the upfront cost they are absolutely worth getting. With solar panels, the average three-bedroom home will save £454 a year on their energy bills. And if you’re exporting excess electricity to the grid via the SEG, you’ll make an additional £160 per year.

Are solar panels worth it in the UK?

Solar panels are definitely worth it in the UK. The average three-bedroom household will save 70% on its electricity bills by going solar, and break even on the cost of its panels after just 15.66 years. It’s a large upfront cost – but if you can afford it, solar panels make an excellent investment.

How much do solar panels cost?

The price of a typical 3.5 kilowatt-peak PV solar panel system is about £7,000. Based on the Energy Saving Trust's figures, it could take someone living in the middle of the country, in a typical home, anywhere between 12 and 17 years to recoup the costs of installing panels, based on current Energy Price Cap rates.

Why do solar panels cost so much?

Solar panel quality significantly impacts their cost. Higher-quality panels, made with superior materials and advanced technology, offer greater efficiency, longer lifespans, and better warranties. This higher upfront cost is justified by increased energy production and durability, leading to greater long-term savings and reliability.

Are solar panels a good investment?

Buying solar panels is a long-term investment that should help cut your electricity bills and carbon footprint. But will they pay for themselves and earn you money? Solar panels are often marketed as a way to save money on electricity – and sometimes as a way to make money too.

Do solar panels cost vs long-term benefits?

Dr Ben Kolosz is an Assistant Professor in Renewable Energy and Carbon Removal at the Energy and Environment Institute, University of Hull. We spoke to him about solar panel costs. “Homeowners should consider the cost versus long-term benefits of installing solar panels by evaluating factors like break-even time and potential savings.