Are Solar Panels Still a Good Investment for Homeowners?

Are Solar Panels Still a Good Investment for Homeowners?
Are Solar Panels Still a Good Investment for Homeowners?

It has been suggested in the past that people would earn more money from installing solar panels in their homes than putting their money into a pension.

Not only would you be earning more money, but you would also be helping the environment at the same time too.

While this is a simplistic comparison, the pros of solar panels have caught on.

There has been a huge increase in the number of solar panels installed across the country, but are they still a good investment? If you’re thinking about installing solar panels on your property, then here are some of the things you should think about before you do:

Is Your Home Suitable?

For solar panels to perform at their best and generate the most electricity, your roof needs to ideally be south-facing and have a pitch of approximately 30 degrees. If your roof faces in another direction, then don’t despair, they will still work but they won’t be quite as effective. Solar panels can also be installed on flat roofs by fitting a frame, but the power produced by these panels will be less.

Solar panels will work in any weather condition, so don’t worry if you live in part of the country that doesn’t see a lot of sunshine, they will still work in cloudy conditions. You do, however, need to think about whether there are any obstructions that could stop sunlight reaching your panels – such as your next-door neighbour’s building or any overgrown trees.

The larger space you have available to fit the panels, the better. So even if your shed is pointing in a southerly direction, and your roof is not, it’s more likely that your roof will be a better place for your panels to be fitted. If you are wanting to find the best solar company in San Jose, then Semper Solaris may be the perfect choice for you.

Why not see if they are available in your area? Semper Solaris tailor their installations to suit your needs and they will be able to advise you on where is best to place the panels. Solar in San Jose works really well due to the beautiful sunny climate, so it’s definitely worth the investment.

Are Solar Panels Worth the Cost?

Solar panel installation is now a lot cheaper than it used to be. The price of installation has fallen considerably over the past few years with systems now being approximately half the cost they were a couple of years ago. This price decrease has led to many people increasing the size of their solar systems with the average increasing from a 3 to 4kWp.

Many installers have started installing solar panels for free, but there is a drawback to this option. By choosing to have your solar panels fitted for free, you have usually agreed to not receiving any profits for the electricity you generate – you will, however, have cheaper energy bills, so it’s still a worthwhile consideration.

After installing your solar panels, there is little maintenance required of them. You will need to ensure that they are kept clean and free from any debris such as falling leaves. Solar panels will last approximately 25 years, but the inverter may need replacing before this. It is a good idea to talk to your installer about any warranties or guarantees they will give you before you invest.

On top of reducing the quantity of electricity you purchase from energy companies and reducing your carbon footprint, you may also be able to earn money from the government by selling them any excess electricity your panels produce.

The risks involved in installing solar panels are shrinking. This leads us to assume that the costs of solar panels will continue to fall. PV solar panels are almost maintenance-free which will save you time and energy on cleaning and maintaining them.

Will it Help Cut Electricity Costs?

Energy prices have been rising consistently since the 35% spike that occurred in 2008, and the forecasts show that this isn’t likely to slow down any time in the future. With this rise in costs likely to continue, we need to start thinking of alternatives that will cut costs and improve your home’s energy efficiency. By looking at your current bills, you will be able to work out whether installing solar panels are a good option for you. If you are a homeowner with higher electricity rates, then installing solar panels could really benefit you.

Inflation is something else you need to think about. The price of electricity is largely affected by inflation rates. Most energy companies pass the rising energy costs on to their consumers. If you choose to install solar panels, you will be able to avoid any sudden increases in energy rates and you will be able to have a clearer idea of what you will be paying each month.

Solar panels are brilliant at helping cut energy costs. Instead of purchasing electricity from energy companies, you are creating your own, which means you won’t have to pay for it. You could save up to £300 a year!

Solar Panels Vs a Pension

It is hard to have a fair comparison between panels and pensions, but the benefits of installing solar panels shouldn’t be ignored. A pension will guarantee you a fixed income for life, and it will also offer you many other advantages. Solar panels do not get tax-relief like pensions currently do. Pensions currently get 20% tax-relief or more. Employers will also not contribute to your solar panels and installation like they do a pension.

Although solar panels are a great investment, they should be seen as a complementary investment to a pension and not a substitute for one. They could earn you money in the long term and they will definitely save you money on your electricity bills too.

Should I Install Solar Panels Myself?

If you are wanting to reduce the cost of your energy bills, then having solar panels installed for free could be a brilliant option for you. This option will prevent you from taking advantage of the profits made from any unused electricity made, but it will certainly save you money.

If you’re wanting to make some money out of your solar panels, then you might be better off getting them installed and paying for them yourself. Before doing this, you need to consider how long it will be before you start seeing the money back from your investment. If you’re thinking of moving house within the next few years, then this option may not be right for you. This is because you will have moved house before you start making any profit on your electricity. It may however increase the price of your property.

There are lots of pros and cons to having solar panels installed on your property. You need to take lots of things into consideration, including the type of roof you have, when you want to see a profit from your solar panels and whether you’re going to have them installed for free or pay for them and earn money for your unused electricity. Make sure you look into all of the options and work out whether they will benefit you.

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