If you are thinking about investing in solar panels for your home but are unsure whether or not you can afford them, you have come to the right place.
Thankfully, there has never been a better time to purchase solar panels for your property, as due to an increase in demand in recent years, the market price of solar panels has dropped considerably.
In fact, you can now find solar panels that are up to 70% cheaper than they were only 9 years ago.
Furthermore, new technologies are emerging every day, meaning that new, and more cost-effective ways of manufacturing solar energy components are being created, resulting in even cheaper solar panels.
Now, let’s take a look at why you should be investing in solar panels in the UK, plus how you can take advantage of the cheapest options available in 2020.
What are the benefits of PV panels in the UK?
Did you know that by 2025, the average UK family will be spending £1,343 on their annual electricity bill? That is a whopping £112 per month.
However, if you invest in solar panels, you could see this number drop by up to 70%!
Other benefits of solar panels in the UK include:
- The chance to earn money back by selling surplus energy back to the grid
- The opportunity to reduce your carbon footprint
- Solar panels produce electricity all year round, not just in the summer
- Little to no maintenance is required
- An ideal solution for those living in remote areas where the grid is prohibitively expensive
What are the cheapest solar panels available in 2020?
If you have already decided that you want to install some cheap solar panels in your home and enjoy the benefits listed above, but you are concerned about the upfront costs, then you will be pleased to know that there are cheap solar panel options out there.
PV solar panels
PV, or photovoltaic solar panels, are now very popular in the UK, with many homeowners enjoying the benefits of these affordable and highly effective solar panels.
Cheap solar panels capture the sun’s energy using photovoltaic cells and do not rely on sunlight to generate electricity.
PV cells are made from layers of semi-conducting material, more often than not silicon, and come in either panels or solar tiles.
However, solar tiles are significantly more expensive and are only used if panels are not a viable option.
The average cost of PV solar panels will be dependant on the solar system size that you want for your home, although, it is worth noting that the better your system, the more energy you will be able to generate, with surplus electricity being able to be stored and sold back to the grid at a profit.
1kW solar system = an estimated £1840
2kW solar system = an estimated £3680
3kW solar system = an estimated £5520
4kW solar system = an estimated £6040
It is also worth looking into solar panel funding options online as well as any current government schemes that may be able to help you recoup some of the initial costs of installing solar panels on your property.