#Collaborative post
Why solar panels are becoming a good investment
For a long time, solar panels have been seen as a bit of a gimmick or something of a luxury. But times and attitudes are changing, and there’s a new appetite for installing domestic solar panels. It’s easy to scoff when another home is adorned with panels on its roof, but a quick look at the benefits and it starts to make sense. Not convinced? Here are a few of the main reasons why solar panels are becoming a good investment.
Rising energy prices
We’re all dealing with rising energy prices, along with massive hikes in other bills. So, anything we can do to shield ourselves from the unpredictability of energy prices is going to be a win. And that’s exactly why solar panels are starting to appeal to homeowners again.
Although the initial solar panel costs – including the materials and labour to install them – are typically between £2,500 and £9,000, that’s not such a hefty sum when you consider that energy bills are now topping £3,000 a year.
Improved technology
At first, solar panels really only worked for those with a large roof area that’s exposed to lots of sunshine. But improvements in technology have changed that. Smaller, more powerful panels are now available to consumers.
Originally panels could only produce a very limited amount of electricity due to how inefficient they were at turning the sun’s rays into energy. But advances in the cells, films and coatings that make up a panel mean newer solar panels work much better. A single panel can now generate up to 5kW of power with an efficiency of around 23%. And new prototypes are now starting to yield even better results.
Handy for EV charging
As electric cars are becoming more desirable – and necessary – we need a convenient way to charge them up. Public charging points are all very well, but they’re not always near our home or available when charging up. So home charging is undoubtedly the way forward.
Car chargers are relatively easy to integrate with domestic solar panel systems, as there are specialist installers who do it all for you. Combining your system with a wall charger, inverter, and battery storage means you can charge your car whenever you like using solar power rather than running up your electricity bill.
Possible returns
You can sell your unused energy back to the grid, helping you recoup costs further. Your installation needs to be MCS certified to do this, so check with the company you’re planning to use beforehand. Then all you need to do is find an energy supplier with a Smart Export Guarantee tariff, and you can receive payment for every unit you feedback to the grid. On average, homes doing this receive around £150 a year through this scheme. That’s not bad, considering it’s something you’re not using, right?
Climate change
Although not everyone has the same level of concern, most of us are starting to take the impact of climate change seriously. And we’re all looking to do our bit, one way or another. For some, that’s buying less and recycling more. But for the rest of us, it’s going much further and upgrading our homes, so we’re less reliant on fossil fuels. Not only do solar panels improve your environmental credentials, but they also help keep your conscience clear.
Property value
Buying an energy-efficient home hasn’t been high on the list of priorities for families in the past. But that’s starting to change. And it’s not simply high energy bills and climate change that’s fuelling it. More people are starting to worry that future changes in the law and our energy provision will mean costly changes to conventional heating systems. The phasing out of gas boilers is something that’s already being discussed. So, a future-proofed home that’s already using renewables is a tempting offer. That means solar panels are becoming a valuable asset to have.