5 reasons to consider solar panels as energy prices soar
The price of energy has hardly been out of the headlines in 2022 and provided scant little to cheer about – unless, that is, you install solar panels. According to Money Week, installation firms have reported a fourfold increase in business in 2022 when compared to 2021.
It’s hardly surprising, as saving money as energy bills skyrocket is now a priority for many, and what better way to achieve this than by generating your own power. If you’re considering solar panels as a way to do this and wondering whether they make long term financial sense, the article makes an interesting point.
It reveals that the payback period for solar panels could drop from 11 years to just 4 years thanks to the skyrocketing energy prices. While you may think that’s a good enough reason to install them, powering your home using solar energy provides other benefits too. Read on to discover five.
1. It’s a renewable energy source
While it’s an obvious statement, a key benefit with solar panels is that it’s a truly renewable energy source. Unlike other sources of energy, we genuinely cannot run out of it and it’s clean.
One downside in the UK is that it can be an intermittent energy source, so this is something you’ll need to take into consideration. One way you may be able to do this is to use batteries to store the energy for future use.
Furthermore, more and more of the materials used to produce the solar panels are recycled, meaning their carbon footprint continues to shrink
2. You could be paid for the excess energy produced
As the panels provide some, or potentially all of your electricity needs, your energy bills may drop substantially. How much you save on your bill will depend on the size of your solar system and your household’s energy usage.
Additionally, you may be able to receive payments for the surplus energy your panels generate if you export it back into the national grid.
Another financial benefit of having solar is that it may increase your property’s value. According to energy provider EDF, current trends in the energy market mean that if you do have panels on your roof, you may be able to command a higher price for your home when you sell it.
3. Solar can provide hot water as well as electricity
While you may think solar energy means electricity, there are other ways you can use it. Aside from generating electricity using photovoltaics panels, you can generate hot water using solar thermal panels.
4. It requires little maintenance
Solar panels do not require a lot of maintenance, with keeping them clean being the main requirement. This means cleaning them a couple of times a year or using specialised cleaning companies to do it for you.
As there are no moving parts there is no wear and tear, meaning the inverter is typically the only part of the solar-panel system that needs to be changed after 5–10 years. This is because it is continuously working to convert solar energy into electricity and/or heat.
According to EDF, if you ensure your solar panels do not become blocked by dirt, they could last for 25 years with little loss in efficiency.
5. Solar is more efficient
Using electricity that’s produced on your rooftop is much more efficient. This is because transmitting energy from various power stations across the UK using extensive networks results in energy loss.
Generating your own power from your rooftop means energy loss is minimised, so less is wasted.
Get in touch
We hope you found this article useful if you are considering solar panels. If you would like to discuss other ways you might be able to deal with the soaring cost of living, or ways to inflation-proof your wealth, please contact us on info@harperlees.co.uk or by calling 01277 350560.
