Solar panels are PV panels attached to your roof and convert the sun’s rays into electricity for your home. It is a means of using natural resources for power and reducing reliance on non-renewable fossil fuels.
While the initial cost of solar panel installation can be around £5000 for a three-bedroom house, the potential benefits could quickly return on this investment within a few years. Before making the decision, weighing the possible reasons to invest against the initial outlay is essential. Here are five reasons to support your decision.
Save Money
While you will spend money in the short term, over the medium to long term, there will be savings in your energy costs. If you work from home all day, you could see an annual saving of more than £400 on your bills.
At this level of saving, you could pay for your panels within ten years. The expected life span of the installation is 20 years.
Recently, the cost of energy has been a primary concern to households. Consequently, it saves money and reduces potential stress when geo-political events create uncertainty around prices.
Make Money
So, we live in Britain, and it feels like the sun comes out once every 20 days or so. You are forgiven for thinking that the chance of having a full supply for your home is an outside chance. Yet, it is likely that you will use only about 20% of the amount of energy you create.
Despite popular opinion, most quality PV panels can convert energy on overcast days. Obviously, direct sunlight will create more energy. However, the panels do not need this to supply your home with electricity.
Some homeowners choose to install batteries to store the excess energy for use at other times. With the Smart Export Guarantee, you can also sell this energy back to the supplier. If your home is in a wonderfully sunny spot, you could make money using your solar panels.
More Peace of Mind
If we are honest, the recent events in the world have caused a sense of insecurity. Geo-political news can now directly impact our household budgets in a way we have never felt before. Spikes in prices and a reliance on the government to step in can make home ownership a stressful experience.
Consequently, one of the more intangible benefits of solar panels is peace of mind. You will know that while the sun shines, you have a ready supply of energy that you can afford to use. Equally, with the use of the smart metre, you can use this efficiently to ensure you have enough through darker days too.
More Desirable Home
For all the reasons you choose to invest in solar panels, a future buyer would factor in when selecting their next home. While there is little consensus on how much value it would add to a house, estate agents note that it will be between 4% and 14%.
Affording to buy a house and run a house are two different measures in today’s world. Therefore, understanding the cost of living in a home is a significant factor in decisions, and any sign you give that yours is more affordable will make a difference.
Future Proofing
Renewable energy sources are the future of the planet. Relying on finite resources that damage our climate is called out every year as futile. Therefore, one of the most significant reasons to invest in solar panels is to be a part of a solution to our environmental problems.
While one household cannot battle against nations like America and China, if 800,000 Northern Irish homes contributed – and then extended to all households – the difference would mean something. We can only be in control of our actions. And this is one decision we can make to be part of the solution.
Summary
There are so many reasons to invest in solar panels. Obviously, cost-saving is a significant factor, though it might be spread over too many years to factor in honestly. However, the sense of control over your energy and budget is likely incentive enough to invest. Creating your energy gives all-important peace of mind in turbulent times.
