Although the cost of a solar panel system has come down a lot since its conception it is still no small undertaking and the price can quickly sky rocket when you go for larger sizes with more capabilities and add in batteries with backup power so that you can store any excess energy.
When choosing a solar panel system it is important to ensure you get several quotes from qualified solar installers.
Factors affecting prices
The size of the system you go for will be the biggest factor in cost.
The average domestic sized solar system is around 4 kilowatt peak, generating around 3700 kilowatt hours of electricity every year and costs roughly between £4,000 and £7,000. This size would work for a family with up to four people.
For households with six people and over a 6 kilowatt peak systems would be needed costing from between £8,000 to £10,000.
Types of solar panels
There are many variables that will affect the cost of the price of your installation, not just the size of the system you choose. We now have the option of “on roof” or “in roof” panels.
Many people have heard of the on roof option that we’ve all come to know as standard but we now have the in roof option where the panel replaces the roof tiles and sits inside the roof.
Battery size and capacity
If you opt for a battery, the size of battery you choose will also affect the price. As with most things in life, we have the base price and then you can go as high as you want with the different options and variants.
Making a return on the investment
Many people choose to look at the installation of a solar panel system as an investment. Not only will your energy bills be reduced, a standard energy customer currently paying roughly 16 pence per kwh, but you can also feed any excess power created back to the national grid with the Smart Export Guarantee, in turn making you a profit.
It can also increase the value of your house as more people look to become eco-friendly and look for renewable energy sources.
Although the initial outlay for a full system is expensive, the maintenance costs are relatively low.
The inverter works constantly converting the collected energy into power so this will need to be replaced every five to ten years but as the rest of the system has no moving parts there is no wear and tear to worry about.
Most systems come with at least a ten year warranty and can be expected to last you for about twenty five years.
When choosing a solar panel system it is important to ensure you get several quotes from qualified solar installers who are accredited under the microgeneration certification scheme. They will be able to come to your home to assess your needs and find the best system that suits your budget.