How Long Does It Take For Solar Panels to Pay Off?

As every homeowner and business owner has looked into the rising costs of the national electricity grid and begun considering more renewable energy alternatives moving forward, solar panels have been a bit slower to be explored or adopted by either.

Some think it is down to assumptions of high solar panel cost or slower investment return, but those assumptions and internet searches can be misleading. The most reliable way of finding out how solar panels pay off their cost is to directly ask a specialist installer.

How They Pay Off

As with all things, how long it takes for solar panels to pay for themselves in the United Kingdom depends on various factors. Generally, a solar panel system would take between 5 and 6 years to start paying for itself.

Like everything on the internet, it is easy to get misled over a lot of things. One common misconception is that you need direct sunlight to warrant a solar panel system for your home or business. The reality is that you don’t need to be living in the tropics to have your home pay for its solar electricity system.

A standard 5kW solar panel system can produce up to 20 kWh on a good sunny day depending on location and levels of light. The power produced by this size solar panel system makes it sufficient for the needs of a regular household in the UK.

It also comes down to how many panels you have installed. If you approach things more tactically, you could reduce your time in paying for them or even end up selling surplus energy back to the national electricity grid.

What Does a Solar Panel Cost?

The cost of a suitable solar panel system will be determined by the size of your roof or whatever alternative space you have and how panels will be required to effectively power your home.

Solar Panel systems are a lot cheaper than they were twenty years ago with the average Solar panel system costing between £4,800 to £6,000, whilst it would cost between £6,000 to £7,000 including battery storage. The true cost can not be easily determined without talking with a professional installer who can inspect the property and what measures need to be taken into account for a successful installation and operation.

As for how many you would need, that would come down to reviewing your current electricity usage to discover what can be achieved through solar panels. As smart meters are now starting to be implemented, you can review your account and access data on what power is being used where – especially if any is going to waste.

Contact the team at Positive Energy Solutions today to discover the potential of solar panels for your home or commercial solar for your business and discover the real benefits.

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