Solar panel installation cost summary:
Price range = £5,500 to £22,500 for solar PV panels
£1,000 to £8,000 for solar thermal panels
Average cost = £10,000 for a PV system, £4,800 for solar thermal system
Cheapest price = £1,000 (for the minimum amount of solar thermal panels)
There are two types of solar panels you could install in your home:
- Solar Photovoltaic (PV) panels, which generate electricity
- Solar Thermal Panels, which produce hot water
The price of solar panels for your home will vary depending which type you choose, the size and location of your property and which installation company you hire.
Why install solar panels in your home?
- Solar panels are good for the environment – solar panels reduce your carbon footprint and can save around a tonne of CO2 emissions every year
- Installing solar panels will cut your fuel bills a typical 2.9kWp solar photovoltaic (PV) panel system could reduce your household energy bills by £90 to £180 per year. A solar thermal panel system can save you between £55 and £80 per year
- Earn money by installing solar panels receive an average of £570 a year through the government Feed-in Tariff scheme if you install solar PV panels or a £400 grant towards the cost of installing solar thermal panels through the Renewable Heat Incentive (RHI).
Other solar panel cost factors
Here are some additional tips to help you save money on your home solar panel costs:
- Solar tiles cost quite a bit more than panels
- Panels built into a roof cost more than those that are installed on top
- A solar 2.2 kWp system could produce around 40% of your household’s annual electricity needs (meaning savings of approximately £900)
- You can sell any excess electricity you generate through the Feed-In Tariff scheme
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