Like many we’ve seen nothing but adverts promoting free and/or funded solar across social media. Lots containing negative comments or displeasure when realising its misleading or only for 0.1% of the population. We decided to delve into the truths about Solar in the UK and cover ‘is solar still worth it in 2024?’
Let’s delve into the truths about solar energy in the UK, debunking misconceptions and shedding light on the real costs and benefits.
Is Solar Worth it in 2024?
The short answer is yes, however not for everyone. Amidst fluctuating energy prices and uncertainties in the global energy market, investing in solar energy emerges as a beacon of stability.
With energy price caps in constant flux and energy companies reaping record profits, the quest for energy independence becomes paramount. While solar may entail initial costs, its long-term benefits outweigh the investment for many.
That being said, Solar might cost you more than it will save you. Ultimately you have to consider the cost of a solar system vs what it will potentially save you.
Each person will be different as the size of your roof space, roof orientation and energy consumption will vary. Many Solar companies offer finance options so it is possible your monthly repayments are offset against those savings and with the added benefit of battery storage you can use your electricity even when the sun isn’t shining.
The truth about Free Solar
Contrary to what many adverts claim, the reality is that free solar installations are exceedingly rare. The ECO4 scheme offers heavily funded or free solar installations to a select few who meet specific criteria
The government scheme called ECO4 allows some very fortunate people to get home improvements including solar heavily funded and sometimes free. The premise of this scheme is to help solve fuel poverty and the less fortunate. In reality its set up to achieve the biggest carbon savings to help the government hit their targets.
To be eligible you must :
- Be in receipt of certain benefits
- Have an EPC rating of D or below
- Your property must be electrically heated and Biomass machine or District Heat Network has been ruled out.
You can read more about the exact criteria for ECO4 here.
If you see an advert promoting free solar, more often than not you either wont meet the criteria or its simply an intentional misleading advert to capture your details.
If I Cant Get it Free, what does it Cost?
This is the real question most will want answering.
Its not quite a simple question to answer, as you have different sized systems, battery storage and different panels. However we’ve been able to collate an average cost based on size of property.
Average solar panels cost:
A solar system can typically range anywhere between £7,000 and £14,000, this includes the supply and installation of the system but will depend on the size amongst other factors. We’ve broken down the estimated costs based on the size of property in the table below.
| Property Size | System Size | Number of panels | Estimated Costs |
|---|---|---|---|
| 1-2 bedroom house | 3kW system | 8 | £7,000 – £8,500 |
| 2-3 bedroom house | 4kW system | 10 | £9,500 – £10,500 |
| 2-3 bedroom house | 5kW system | 13 | £11,500 – £12,500 |
| 4-5 bedroom house | 6kW system | 16 | £12,500 – £14,000 |
If you are then considering adding battery storage to your system you are looking at an additional £2,500 to £10,000.
These figures may seem daunting, but they represent an investment in energy independence and long-term savings..
When you invite a solar company out to quote you for your new system they will calculate the size system you require and based off your current energy usage. They will then provide you with a payback period (how long to break even). That’s based off energy prices at the time, further increases will speed up your payback.
You can then reduce your costs with SEG payment. SEG payments is money you can earn for exporting surplus solar power that you have generated back to the national grid. Savings after 25 years with SEG will more than likely repay your system cost x 2 alone.
Factor in purchasing the panels on finance or via a personal loan and you could be no money out of pocket.
How the Technology has Improved
One of the biggest factors for a bright future of solar energy is the continuing advancement of solar panel technology.
Researchers and manufacturers continue to develop more efficient solar cells and innovative materials. Solar is becoming increasingly effective at absorbing sunlight and converting it into electricity.
With solar cells achieving over 30% efficiency, modern systems offer increased power generation at reduced costs. Additionally, the overall cost of solar systems has significantly decreased over the past decade, making solar energy more accessible than ever before.
Making now a better time than any to invest in Solar.
Getting the True Cost of Solar
If you are genuinely interested on investing in solar for your home or business we’ve teamed up with a comparison service that has a network of installers nationwide. These installers are not only vetted by also MCS accredited
Our reason for this article is to highlight the misleading and click bait adverts we see everywhere for solar, help you understand what’s available and if solar is worthwhile. The below service is for those that want to get solar and are looking to get accurate quotes.
The companies will provide you with a no obligation quote, explain the outlay, the return and savings against your energy consumption allowing you to make your own informed decision. Without being pressured into a sale or mislead with false promises and ‘too good to be true’ offers.
You can arrange your no obligation quotes here on our solar quote page. Find out the answer to ‘Is solar still worth it in 2024’ today.
