A 4kW PV system – made up of 10 solar panels – should cost between £6,000 and £8,000 to install. The amount of PV you can get on your roof will of course vary, which will also impact the size of the inverter you need (the device which makes the PV output useable in your home) and therefore the cost of that too. So do factor in all aspects. It’s also worth noting that the inverter needs to be replaced every 10-15 years, so probably once in the lifetime of your solar panels; again, it’s worth factoring in that cost just so you have it in mind and aren’t taken by surprise.
The average price of installed solar panel systems in the UK is between £5,000 and £10,000. The price is highly dependent on the size of the system, and the table below provides an indicative breakdown which includes the cost of the panels, the cost of installation, and other things to factor in, such as scaffolding costs.
Under the Government’s Warm Homes Discount Scheme [https://www.gov.uk/the-warm-home-discount-scheme], which is being delivered by local authorities on behalf of the UK Government, you have the opportunity to install solar panels if you meet certain criteria around household income and if you are based in specific low-income areas. For the vast majority of UK households, however, these will not be available.
Installing your solar panels needn’t be a huge upheaval for you or your family. Allow two days for your PV system to be installed once the installers are on site, although the bulk of the work will be undertaken on day one. You’ll likely need to have scaffolding erected in advance so that the panels can be installed safely, so factor that in too. The installation of PV is relatively straightforward though and there is little difference in installation times based on the size of the property.
The good news is that the payback on solar panels is typically around 8 – 12 years, depending on the system you have chosen. The panels will last 25 years, so it’s the gift – or rather investment – that keeps on giving! As soon as your panels are connected, they’ll begin to generate energy immediately (assuming it’s daytime!) and you’ll see the benefit to your energy bills from day one.
We’re big advocates of solar panels, because of how easy they are to install and the fantastic return on investment coming your way.
If you’ve got the roof space, really do think about installing solar panels. As we mentioned in this article, the outlay on the panels for a typical home is around £6-8k, but you’ll see the benefit of your investment from day one – and they’ll last for 25 years. If you’re thinking that you may sell in the next decade, don’t worry - solar panels can actually add value to your home and we’re seeing houses in many places sell for more as more and more homeowners seek properties with green ways of generating energy. What are you waiting for?!
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