How Much Money Could Solar Panels Save On Energy Bills?

Installing solar panels onto the roof of your house is a short-term expense with long-term savings, and in recent years, lower costs and higher savings have made the installation of solar power even more appealing.

With more advanced photovoltaic technologies, improved battery storage and a greater understanding of how they work outside of direct sunlight, solar panels have become more efficient, better value for money and reduced energy bills more than ever before, even considering the cost of installation.

Exactly how much you save will depend on a wide range of factors, from the size of your roof, how steep it is, which direction it faces and where there are any large obstacles in the way of the sun such as tall trees and other buildings. 

It also depends on if you can claim under a grant scheme such as the Energy Company Obligation.

As well as this, the Smart Export Guarantee, which pays small-scale electricity generators for the low-carbon electricity they supply to the National Grid, can help create further savings.

Finally, it depends on how much energy you use. If you work at home you will get far bigger savings than if you are out until late.

On average, someone living in North London who works from home and subscribes to the SEG could expect to save as much as £600 per year on their energy bills, a massive saving given the average annual cost of electric bills in the UK is nearly £1000.

With an average operating life of 25 years, solar panels should pay for themselves long before they are set to expire and their benefits often work well in combination with other green energies such as PV diverter switches, electric vehicles, heat pumps and battery storage.

It is worth consulting an expert to see how beneficial a solar panel will be, but with improving technologies and lower costs, the benefits are becoming difficult to ignore.