Are solar panels worth it?

Renewable energy sources is a hugely debated topic. Some people think renewable energy will save the world and will free us from the current climate crisis, but others think solutions like solar panels and wind turbines are just a fad.

But actually, there are now 1.5 million solar panels installed in homes across the UK. What may be putting you off, however, is the cost. It costs an average of £7,000 to have solar panels installed. I’ve previously had a quote for £8k (this was for around 12 panels). So with this in mind, is this investment actually worth it?

There are tons of benefits of solar panels, and you could actually recuperate this cost within a few years, making it a solid investment. Below, I take a look at the top nine benefits of solar panels to help you make your decision.

How do solar panels work?

Solar panels are able to use the sun’s energy to create electricity, resulting in zero emissions and zero burning of coal or natural gas.

These panels contain photovoltaic (PV) cells and electrons. When light hits these cells, the electrons are knocked loose from their atoms, generating an electric current. This current can be harnessed to power your home and can even be stored in a battery if you don’t need to use the electricity right at that second.

Not only do solar panels reduce reliance on traditional energy sources, but they also contribute to lower electricity bills and a smaller carbon footprint, making them an eco-friendly and cost-effective choice for homeowners.

What are the benefits of solar panels?

1. They offer significant cost savings

This is probably one of the most compelling reasons to buy solar panels. They can offer significant savings on your energy bills, as you no longer need to purchase energy from the National Grid to run your home. You could power some of your electrical appliances completely free of charge.

These savings might seem minimal at first, but they can accumulate over time, often covering the initial investment in just a few years. Moreover, solar installations come with incentives and rebates that further enhance financial benefits (see benefit number 7 for some of the government incentives that are available).

2. They help you achieve energy independence

I always joke to my husband (half-jokingly) that if there was a major worldwide event that resulted in an apocalypse, I’d like solar panels so we could still charge our phones and power the fridge.

But jokes aside, it is actually a genuine fear that we are so dependent on third-party companies to supply us with something that is so essential.

This dependence can also make you vulnerable to price changes and energy rationing, but solar power is one way you can address this problem. By generating your own electricity at home, you can become your own energy provider.

This kind of stability may result in fewer power outages, and you won’t be affected by fluctuations in the energy market (and changing prices).

3. They have a positive environmental impact

As I’ve mentioned, solar power doesn’t produce any emissions, and is one of the most natural sources of energy. You could massively reduce your home’s carbon footprint by having solar panels installed, creating a positive impact on the environment.

While one home won’t make a difference, imagine if every home in the UK had solar panels (that’s almost 30 million dwellings).

Traditional power generation, by comparison, employs the use of fossil fuels, which are well known to emit greenhouse gases and therefore have an effect on global warming.

4. They could make your property more valuable or desirable

The use of solar panels increases the value of most homes in most cases.

This is because lots of people are willing to pay a premium price for a house that is very energy efficient and has the capabilities to produce green energy. It’s also probably more beneficial for a person to buy a house that already has solar panels installed. They don’t have to pay for purchase and installation themselves (though it may be thrown in with the price of the house) and don’t have to spend time having them installed.

Studies have shown that houses with solar panels not only sell at premium prices but also have higher demand than those houses without these systems. This added value makes solar power an attractive feature for any homeowner who intends to sell their house in future.

5. They require little to no maintenance

Solar panels are designed to last a long time, and rarely need any repairs or extensive maintenance. Essentially, once they’re on your roof, they will last for many years (the estimated lifespan is 25 to 30 years).

They are built to be resistant to all types of weather, so you don’t have to worry about snow, rain, hail or wind damaging your panels.

While you may have to clean them occasionally (maybe find a window cleaner that can do this for you!), they are a very low-maintenance home addition, so you can leave them be and know that they’ll do their job without the risk of costly repairs.

6. The technology is always evolving

Solar technology has been one of the most rapidly developing fields in the last twenty years or so, and today’s solar panels are much more effective and visually appealing compared to those of the past.

The technological advancements are still changing and improving. For instance, solar batteries allow you to store energy for use during non-sunny days, which is a gamechanger here in the UK where sunny days can seem few and far between.

Such enhancements make solar technology more suited for daily use.

7. You could qualify for some government incentives

Most governments provide financial incentives to encourage the use of renewable energy sources. These can be in the form of tax credits, rebates or grants that help to offset the expenses of putting in place the solar panels. Using these programmes can make the adoption of solar power even cheaper, thus improving the value of the investment for owners.

Here in the UK, some of the schemes available include the ECO4 scheme or the Green Deal scheme.

For ECO4, you may qualify for free solar panels if you’re on certain benefits, defined as ‘low income’ and your property has a low EPC rating for efficiency.

Green Deal is a loan that’s specifically for certain efficiency changes to your home, including solar panels, so you can spread the cost over a time period of your choice. This can be good for people that want to have them installed but can’t afford to pay a large sum upfront.

8. They have a positive impact on the community

Did you know that going solar can have a domino effect within your community?

This is because as more people install renewable energy systems, there is reduced demand for fossil fuels, which are known to cause pollution. The more homes that use solar in your area, the better.

Solar installations might also influence your neighbours or local businesses to take the same route.

9. They’re a long-term investment

As I’ve already stated, solar panels don’t come cheap. While they do generally offer energy savings, you’d be expected to spend thousands for this kind of system.

So you should see solar panels as a long-term investment in sustainable energy and cost-saving. Unlike other home improvements that may depreciate over time, solar installations keep on delivering benefits for several years.

The steady decrease in energy costs and the overall benefits to the environment make it a sound, progressive decision for any homeowner.