In the past solar panels has the reputation for being expensive, and something only the rich could afford. Today it´s a different story. The price of solar technology is coming down all the time, and a solar panel system is now accessible for all kinds of homeowners. In this quick guide find out more about how much solar panels cost, and the pros and cons of buying solar technology.
- Cost Depends on Size
The cost you can expect to pay for a solar panel system depends most importantly on the size of the system you want to install. As you would expect, the larger the system, the more you will pay. The average system size for home solar panels is around 4kWp (kilowatt peak), and this type of system would cost around £5,000 to £8,000. Larger systems will generate more electricity and you can potentially lower your electric bills through your reliance of solar instead of primarily the national grid.
- Cost Also Depends on Location
The cost of solar panels is also affected by the positioning of the panels and where they will be installed. Basic installations will be the cheapest, and more complicated positioning requires a greater outlay of cash. If you have questions about where the panels will be installed and how this will affect the cost of the panels, consult a professional solar installer.
- Cost of Solar Systems is Falling
One of the reasons why the government schemes to compensate homeowners for solar installation has changed is because the cost of solar systems has dropped significantly in the past five years. This means it is easier for homeowners to afford the technology without subsidies. Experts say the cost of solar has dropped by 30 percent since 2010. Prices have fallen particularly steeply in the last three years.
- Prices vary Between Retailers
As with most industries, the cost of a system varies depending on where you buy it, and is affected by various factors associated with the vendor. It helps to take a wider view of the market when you are buying solar, by comparing quotes with the help of a solar comparison tool like solarcompare.org
- Solar Systems Have Significant Economic Benefits
By installing solar panels you can cut your home electricity bills by up to 40 percent because you use the power you generate through the panels in the daytime, and you do not need to buy energy from the grid during this time. It can be expensive to buy solar panels upfront but they do represent good value over the long term, and as such should be seen as a long term investment for the home, and for the general environment. Solar panels give you cheaper energy – and greener energy, too.