Are Solar Panels A Good Investment?

Clean, renewable energy

Unlike gasoline, coal or gas, the energy produced by solar panels is completely clean. The installation of a solar panel system will prevent the emission of up to 1.6 tons of carbon into the atmosphere. As demonstrated by its resilience during the current situation, the industry is also looking to the future. However, you are here to see if it was a decent investment, so let’s move on.

Low energy bills

Solar panels continue to save you money on energy bills. The Energy Saving Trust estimates that a typical 4 kWp solar photovoltaic system will save you between £85 and £220 a year. The Energy Saving Trust has a full table for more information on how much you can save on solar panels depending on your location in the UK. Therefore, by installing solar panels you can save a significant percentage of your energy bills which add up quickly.

Solar panels effectively free up your finances by reducing the cost of your energy bills.

Durability

These days, our money has too many little holes for us to get it out of our wallets. Taxes, mortgages and monthly bills of all kinds are constant discharges into our bank accounts. But solar panels are not one of those drainages.

Once a solar panel system is installed, all it can do is save money from there. Regardless of the type, solar panels last for decades, so the chances of having to replace one are minimal. They are notoriously durable, require almost no maintenance and most warranties on solar panels last 25 years with the slightest chance that something will go wrong. This guarantees that no money will be needed to fix it.

A great boon is the fact that solar panels are an individual purchase and require no extra cost or attention.

Convenient

As described above, solar panels are cheaper today than they have ever been. This means that the money spent is much better overestimated by the revenue from savings on electricity bills, and the need for government subsidies is much less than before. Although the absence of feed-in tariffs is an unfortunate side effect of the low price, there is no reason to argue that such a large price cut can only be beneficial for those who want to buy solar panels.

A standard 3-4 kWp solar panel system will bring you down to around £6,000, but ofcourse, you can find more information on the different costs of solar panels.

Final Thoughts Solar panels are a great investment for most people, but all they do after the initial cost is save you money and make you money. Today, they are even cheaper than ever, thanks to a 70% drop in prices since 2010. This, combined with their huge environmental benefits, makes buying solar panels worthwhile.

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