Solar panels are an important part of the strategy of getting to Net Zero by 2050, but are they right for you? Solar panels are getting increasingly popular in Britain with 1.5 million homes having already installed them. The best way to view solar panels is that it is a way of improving your finances. It can literally reduce your electricity bill to pennies a day. The way you choose to finance solar panels can also mean you are saving money straight away. Adding batteries that store energy means you can even earn money from selling excess electricity.

Does it suit your roof?

Solar panels are best suited to properties with south-facing roof because they attract the most sun. Roofs that face the east and west get 10-15% less sun than south-facing roofs but are still appropriate for solar panels. Solar panels do not suit houses with north-facing roofs as the panels will get very little sun. Solar panels can be laid on slanting and flat roofs. It only becomes a problem if there are dormars on the roof. Solar panels can also be put on sheds and garages, giving you more options of where to put them.

How much money can you save?

A typical 3-bed house will save £350 a year. This is around five months of electricity bills. The bigger your property, the more money you will save. If you have a large house, your electricity bill is probably high, so it is definitely worth investigating whether they are suitable for your house.  

How much can it reduce your carbon footprint?

For a typical sized house, solar panels are expected to reduce the carbon footprint of a building by 1 ton. The size of the reduction in carbon footprint will depend on the size of the property.

Financing of solar panels

The cost of a solar panel will depend on how many you get. For a typical three-bed house, solar panels will cost about £6,000. The larger the house, the more it will cost, but the savings will be greater too. It can be a money saver almost immediately for you depending how you choose to finance getting solar panels. There are government grants that you could be eligible for depending on your income and other criteria. If you have a household income under £36,000, live in England, privately own your property, you are possibly eligible to get solar panels at a very large discount or even for free under the UK government grant ‘Warm Homes: Local Grant to improve a home’. Mortgage providers also may offer a subsidy towards getting solar panels, with some offering £1000 towards the cost of solar panels. If you have a mortgage, it is possible to add the loan you take for solar panels onto your existing mortgage. This will only increase your mortgage slightly whilst you will save hundreds of pounds a year.  

Extra benefits from solar panels

Extra benefits from having solar panels can be gained by pairing it up with other green technology. You can get batteries which stores excess energy, and this means you can use it when you need it or sell it back to the national grid. Having solar panels with an electric car means you can you charge your car for free, and you can cut costs there as well. If you get a heat pump to electrify all your energy use, the savings will be greater. So, with the opportunity to bring down your energy bill to pennies a day and charge your car for free, solar panels really can have an improvement from your finances as well as make a big reduction in your carbon footprint.