Investing in PV solar panels
Power My Home promotes the use of PV solar panels using enthusiasm. The benefits of photovoltaic solar panels are well-documented. Tiny bills, export generation revenue, nighttime power using a battery storage device are primary.
EV-charging and possibly hot water tank heating is possible. A sense of pride is a well-known aspect talked about by adopters. I’ve been talking about these attributes for nearly two-decade of my life now.
Today, you’ll benefit from the reductions in the cost of the panels themselves, which again will positively affect your return-on-investment outcome, but choose the correct panel type. As an example, photovoltaic solar panels can be divided into two types.
Monocrystalline and Polycrystalline panels have substantial differing outputs and costs. Some solar companies offer both, and some don’t.
Monocrystalline have better peak outputs, but usually, cost more. This technology may influence the return-on-investment, but not as much as your additional plugin choices.
Asking the correct questions, doing your homework, and receiving written confirmations before signing a deal will improve your peace of mind significantly!
The right installation company, the right technology mix, and the right price are crucial. Payback used to be frequently asked – not so much today. There’s no other tech that I can think of where people are concerned about payback times. Nevertheless, your return-on-investment is linked to the PV export tariff rate.
Maximise ROI with battery storage, tank heating, and a good tariff rate. These technological differences can and do affect the payback time. My professional advice would be to stick with branded panels and a European manufactured inverter. Assuming 50% of electricity usage you should be returning around 15%. PV solar panels last and generate for up to thirty years. Your expenditure will fall as your neighbours rise.
The average homeowners can expect a conservative payback of between 7-12 years. Geographical difference applies.
In a nutshell, thirty years of energy expenditure stability in a world of instability – priceless.
One thought on “Investing in PV solar panels”
An installer friend has pointed out:
On the electricians forum the general opinion is that premium panels i,e Sunpower, Sanyo (Panasonic) BenQ will add about 8% extra generation per year.
So on a standard South facing system with no shading its about 280 extra kilowatts per year.
So in financial terms thats about £48 extra in FIT income and £15 in electricity savings.
So if a premium panel is say £2000 extra….your Return On Investment will be an extra five years.
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