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Last updated: 11 March 2020

What Is the Installation Cost of Solar Panels?

How Much Do Solar Panels Cost?

Solar panel cost varies depending on size and type of the system. Solar tiles are generally more expensive than the traditional panels. The prices, though, have been falling in recent years, due to the advancements in solar energy technology.

In the table below you can see the average prices of solar panel systems, as well as, the estimated cost and return. As noted before, this is just an attempt to make a broad estimate, since the cost of solar panels will differ according to quality, type, and size.

Roof Space (square meter) System Size (kW) Estimated Cost First Year Return Profit After 20 Years
8 m2 1 kW £1,500-3,000 £185 £640
14 m2 2 kW £3,000-4,000 £369 £3,800
21 m2 3 kW £4,000-6,000 £534 £5,630
28 m2 4 kW £6,000-8,000 £700 £6,750

The average household needs a 4kW solar system. That solar panel cost will range from £4000 to £6000 and will cover around 21 square metres of your roof. The more electricity your system can generate, the higher the initial installation cost, but the savings will also be higher in the long term.

Estimated installation cost and profit after 20 years according to the solar panel capacity

It is safe to say that the installation cost of solar panels isn't inexpensive. Nevertheless, there are many solar panel facts that prove that solar energy is a great asset for any house. It is an asset that after a certain period starts returning money of your investment.

Continue reading to find out on how to regenerate your investment from solar panels cost.

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How Can You Make Money With Solar Panels?

Using solar panels will also make you money, here is how.

National Grid Sale back rate - 4.77p/kWh

You also get paid for the electricity you generate but do not use. You sell it back to the grid and make up to £70 extra per year.

Reducing your energy bills

Using solar panels will enable you to cut down your bills. The electricity which you use when your panels are active is free. This will usually save you around £100 annually from bills, but of course, the savings may vary from household to household.

How Much Can You Save/Earn Using Solar Panels?

There are three ways you can save/earn money. The government pays you for the energy that you have generated, whether you have used it or not. In addition to that, you make further savings because you use electricity which is free.

You can increase those savings if you use most of the utilities (washing machine, dishwasher) during the day when your solar panels are active. Those small changes can result in big savings from the energy bill.

The total amount you can save with 3kW solar system is around £570 annually. This means that for the 20 years, during which you are eligible for the Feed-in Tariff, you can save around £11,400. Even after those 20 years, you continue saving money because of the free electricity.

Although the initial installation cost may seem a little steep, the money you can save in the long run make it an investment you should consider. Not only you will be reducing your bills, but you will also reduce your carbon footprint.

Want to invest in solar? Then fill in the contact form and we'll be in touch with up to 4 tailored quotes from suppliers. This service we offer is completely free and non-binding!

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Written by Aris Vourvoulias Head of Content Aris Vourvoulias is the Head of Content in GreenMatch. Aris is a passionate author and marketer with an educational background in journalism. He continuously writes, reviews, and educates himself in the areas of business, finance, and renewable energy. He has managerial experience in many European markets, including UK, Denmark, Sweden, and Finland. He and his content team have been featured on reputable sites like GreenPeace, Guardian, iNews, Gizmodo, and more
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