Costs

Solar PV panels cost and savings

Grants for solar PV panels have been abolished and replaced with a system where your energy supplier rewards you for every unit of electricity your system generates.

The average cost of having Solar PV is hard to estimate as it depends on the system you will have installed but prices start from around £4,500 and £10,000 (all including VAT @ 5%).

A larger solar power system will be more expensive but will save you more electricity and even earn you money, as you’ll be able to sell excess electricity back to the grid. According to government figures, the payback time for solar PV panels is between 8 and 10 years.

The size of the solar PV panel system you choose depends on your budget and preferences. A smaller solar power system may generate enough solar electricity to see you through the summer months but you may need to turn to the national grid for back-up during the winter. In contrast, a larger solar power system may generate more electricity than you need, especially during the summer months, but you can sell it back to the grid or store it in batteries for future use.

The Energy Saving Trust estimates that a typical 2.7 kilowatt-peak (kWp) system can generate approximately 50% of a household’s annual electricity needs, enabling your energy bills to be halved.

Solar photovoltaic systems have a life expectancy of 30 years and will require little maintenance during this time (you’ll just need to keep the panels relatively clean and make sure trees do not overshadow them).

Figures are calculated using the Energy Saving Trust’s Cashback Calculator.

Find out more about solar PV installations

Lewington Solar Installation specialises in solar PV installations in the Market Harborough and Leicestershire areas. We are MCS accredited solar installers and also do solar PV installations across various other locations in the Midlands region, including Foxton, Kibworth, Lubenham, Uppingham, Oakham, Rutland, Northamptonshire and surrounding areas.

Other Parts to Solar PV

– Introduction to Solar PV

– Lifetime Financial Benefit of Solar PV

– Solar PV Panels for Your Home

To find out if a PV solar panel installation would be suitable for your home, or arrange a free no obligation consultation and quote, please contact Lewington Solar Installation on 01858 433 333 or email info@lewington-solar.co.uk