There’s been significant growth in solar panel installations, as more of us look for ways to become energy-independent (or at least offset some costs).
Having had solar installed recently (check out my BOXT Solar review for more details), I’ve had time to crunch some figures and do some testing to really get into how good solar is and whether it’s worth investing in.
A note on the price cap
How long solar panels take to pay back depends on a lot of things, but one of the most important ones is the amount you would otherwise have to pay for electricity.
Fox ESS Eco-system (Image: Fox-ESS.com)
While the current price cap will see electricity prices fall from April 1, the market remains quite unstable, and the situation in Iran could well lead to price increases three months later.
Despite that instability, the one thing that seems certain is that we’re unlikely to suddenly be able to buy clean electricity at such a low price that solar panels would be hard to justify.
In general terms, the payback time shouldn’t fluctuate too much. If anything, rising electricity prices will actually make solar seem like a better value.
So, in the UK, home of the constant drizzle and cloudy days, is solar really worth it?
It depends on your roof
Solar panels need sunshine, and the peak time for sunshine is between 10am and 4pm. Between these times, you need to have an unshaded roof. Ideally, this means a south-facing one (or near enough), but you also want to avoid shade from neighbouring buildings or trees.
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