What Is the Price of Solar PV?
Solar PV is a technology that collects the sun rays and transforms them into clean, green energy. The technology allows us to generate our own electricity, lighting and heating solutions. On top of that, it’s absolutely safe, eco-friendly and cheap! Solar panel systems are made out of many solar cells that, put together, form solar panels. They are also referred to as photovoltaics, because of their ability to transform sunlight into electricity, which happens thanks to the PV technology.
Naturally, if interested in solar PV, the price would likely be the first thing on your mind. However, it depends on several factors, such as the size of the system, its output capacity, the number of panels and of course the manufacturer. All these are probably going to affect your solar PV’s price.
Setting a fixed price on solar PV cells is difficult as usual, you are buying the whole solar panel system. Of course solar cells can be bought on their own, but usually, the better option is investing in a whole system. For you to have an idea, the average price for the past few years has been between £4,000 and £8,000 for a regular domestic system. However, the bigger your home is, the more you will have to spend on your system.
If you want to get a customised quote on solar PV, Greenmatch is here to help! Simply fill in the contact form stating your needs and preferences and we will do our best to help you find your best deal! You will receive up to four free, non-binding quotes from our qualified suppliers.
Reducing Prices in the Future
Solar PV prices are in fact, going down, especially in the past few years. This in addition to the favourable government incentives pushes more and more people towards making the decision to go solar. In the future, prices are expected to go further down as new technologies are being implemented.
The technologies include developing new ways of building solar cells. New materials that are much cheaper to produce and use are being tested out. The new materials are going to drive solar cell prices further down. Many of these materials are also much friendlier to our environment, which would make solar PV an even more attractive investment. Thus, the future is looking good for solar photovoltaics and people willing to invest in such.
Investing in Solar PV
The initial investment is still quite hefty and thus many people are wondering whether that significant cost would be justified. That strongly depends on whether your system is connected to the grid or not as if it is and you qualify for the feed-in tariff, your return on investment would be satisfying.
Return on Investment
Even though solar PV prices are still relatively high, the savings this technology would generate you over time are by far exceeding the original cost. To generate a good amount of savings and actually make a profit out of your you need to make sure your installer is MCS certified so that you will qualify for the feed-in tariff (FiT).
FiT is a government incentive that pays you for each kWh you generate and use, meaning that you get money even for the energy that you consume. That’s why most solar PV systems require an average of around 7-9 years to payback for themselves. However, FiT is scheduled for 20 years, which means you will make an actual profit on your investment.
Applications for Solar PV Feed in Tariff Close in March
Read our guide on how you can still benefit from the solar PV Feed in Tariff before it ends in March 2019.
Selling Surplus Energy
The energy that you generate will sometimes be more than what you actually need. In that case, investing in a solar battery storage system is always a good way to store that excess energy. All the surplus electricity will be sold back to the national grid and thus earn you more money. However, keep in mind that it’s always better to save energy than selling it, so whenever possible turn off your appliances. Below you can see the respective rates for each system size and the export rate.
|Total Installed Capacity||Generation Tariff With Eligibility Date on or After 01.01.15 and before 31.03.15||Lower Tariff (if EPC requirement is not met)|
Find the Best Solar PV Prices
Comparing the market is always a good idea as you will get a good overview of what the market has to offer. Doing it all on your own can prove to be a bit difficult, but having a platform that allows you to compare suppliers and matches you with several of them can make life easier.
So if you are looking to find the best solar PV prices, all you have to do is fill out our form. It’s completely free and without obligation!
Homeowners planning to implement solar panels in their homes should be aware of the fact that the lifespan of a solar panel is significantly longer than that of a solar inverter. In light of this, it may be worth setting aside some money for the future to cover solar PV inverter replacement costs.