Since the start of the Iran war and the spike in global oil and gas prices, more than doubling their price and no end in sight, demand for solar panels has rocketed around the world. The energy crisis will increase household energy bills and inflation everywhere, making the cost of living higher. Solar panels can be a solution to your finances as it permanently lower energy bills as well as lowers carbon footprint. Solar panels are an essential part of a Net Zero lifestyle because they convert sunlight into electricity and are a renewable source of energy. About 1.5 million homes in Britain now have them Here are some reasons why you should consider getting them:

Solar panels do not have to cost a large amount of money

Many have been reluctant to invest in solar panels because they cost thousands of pounds – a large investment that will take years to pay off. But governments in many countries are keen to boost uptake of solar panels by households to reach their targets of Net Zero and provide financial incentives to reduce the price of them for households. They have come down in price and there are financial incentives to adopt them such as grants, interest-free loans and group-saving schemes. What makes them an even better investment is that it can increase the price of your house between 4% and 14%.

Plug-in solar panels are a game-changer and suitable for almost any home

It is possible to buy solar panels that you plug in and hang from a balcony or put on your patio. Before plug in solar panels, installed solar panels were not suitable for homes with the wrong type of roofs. Some roofs are not large enough, at the wrong angle or cannot take the weight of solar panels. But this now does not matter with plug-in solar panels which can be placed anywhere. What is better about plug-ins is that you do not need to own your home, there is no need to get an electrician to install them and you do not need to notify your local energy provider that you are using one. So, it is suitable for renters and easy to install yourself. If you prefer the idea of installed solar panels, but you cannot put solar panels on roofs, it is still possible to put solar panels on sheds and garages and on the ground of your garden, so it worth investigating how you can fit one in your home.

Solar panels will reduce your electricity bills

Solar panels can reduce your electricity bills because you do not need to use as much electricity from the national grid. The Energy Saving Trust is estimated that solar panels would save several hundred pounds a year on bills on a typical three bed house. But savings vary depending how much electricity you use and the size of your house. The bigger the house, the more energy intensive it will be. Therefore, an investment into solar panels will pay off even faster. If your house has features such as a swimming pool, which use lots of energy, the investment will pay off faster as the savings you make annually will be greater.

You can make money from exporting electricity

Energy can be stored in batteries, so when you do not need it, you can sell the surplus and earn up to £400 a year. The bigger the house, the more batteries you can store to sell energy to the national grid. Combine this with the saving you make on your electricity bill it could potentially eliminate your whole electricity bill or at least easily halve it.

Solar panels charge an electric vehicle for free

Another area where solar panels save you money is if you own an electric car. An electric car increases your electricity bill significantly when you charge it, but having solar panels means you can recharge the battery of your car for virtually nothing. If you combine solar panels, with heat pumps and an electric car, the savings on your energy bill combined with fuel costs could transform your finances for good.

The most effective way to cut your carbon footprint

Solar panels can take tonnes off your carbon footprint over its lifetime. A typical house will save 1 ton of carbon emissions a year. The larger your home is, the more likely it is you are using more electricity, so the investment into solar panels is even better as it will reduce your carbon footprint even more.  Some may argue that making solar panels does produce carbon emissions and this reduces its impact, but the amount it saves per year means it will be carbon neutral between 1-3 years.