Solar Panel Installation Costs and Potential Savings
As well as generating electricity for your home, solar panels can help to reduce your electricity costs and earn you extra income. With such impressive financial incentives, it’s no wonder that renewable electricity-generating systems are becoming such a popular choice among homeowners looking to make savings on their household bills.
How much are solar panels?
Solar PV panels installation cost can vary depending on the type of property you have. However, the average domestic PV solar panels will cost from £5,000 (excluding VAT)*. This based on a typical 4KW system.
Solar panel savings
Installing solar panels could save you up to £325 a year** by making significant savings on your home’s electricity costs and by receiving payments with the government’s Feed-in Tariff scheme. If you are eligible, you will receive payments for the electricity you generate and use, as well as from any electricity you export back to the National Grid.
It is also worth bearing in mind that solar panel costs are often outweighed by the savings you will make on your electricity bills, and the installations usually pay for themselves in around eight to ten years.
Here at the Snug Network, we have made it our mission to help homes and workplaces benefit from affordable energy efficiency improvements across the UK. To find out more about solar panel cost, or for more details on funding and grants, please don’t hesitate to get in touch.
*Prices are subject to survey and access.
**This an estimated amount based on a 4kWp solar PV system if installed in London between 1 July 2016 – 30th September 2016 and EPC rating of D or above. This was taken from http://www.energysavingtrust.org.uk/domestic/solar-panels and is correct as of September 2016.