How much will solar panels save me? 

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18th Jun 2020

How much will solar panels save me? 

The question that almost certainly follows, ‘how much do solar panels cost’ is ‘how much will solar panels save me?’ Installing solar panels will help you to reduce the amount of electricity you use, using the sun’s energy to power your home instead. This can equate to £50-80 a month or £500-£800 annually in savings, depending on the amount of electricity consumed from household to household. 

How much solar panels could save you will largely depend on the solar panels you have installed and how efficient they are, as well as your average household consumption. You’ll also want to consider whether you can take advantage of the Smart Export Guarantee (SEG) that came into force on January 1 2020.

Can you make money from having solar panels fitted?

SEG requires energy providers to pay an export tariff to solar PV homeowners for the energy they put back into the grid. An average home will get paid £100 annually for the excess energy they put back into the grid. 

Adding a battery storage solution with a solar panel solution such as the Tesla Powerwall provides round-the-clock clean energy usage. This minimises the need to rely on the grid for electricity when the sun goes down i.e. cooking in the evening, switching the lights on. The Tesla tariff from Octopus Energy also offers customers with a Tesla vehicle, solar panels and a Powerwall 75% in annual energy savings and 100% green energy.  

How long does it take for solar panels to pay for themselves?  

How long it can take for solar panels to pay for themselves or how much money you could make from them will depend on: 

• How much of the electricity you are able to use 
• Initial cost of your solar panel system 
• If you can be paid for excess electricity generated from the SEG 
• Whether you have Powerwall or other battery storage system installed 

The more of the renewable energy that you can use, the more money you will save. Many customers opt to add a Powerwall on to their system in order to maximise the amount of renewable energy they can use.  

Benefits beyond finances 

Installing solar PV for your home is one of the top ways to reduce your carbon footprint. Another way to reduce your footprint further is switching to an electric vehicle with an EV (electrical vehicle) charging point at home. We are all too aware of the impact our carbon footprint has on our planet, and by making small changes to how you live, you can make a big change.   

How can I find out how much solar panels will save me?  

Find out how much you could save from a solar PV, battery storage or off-grid solution by getting in touch with our team. As a result of the Covid-19 government guidance, we have introduced new virtual surveys . Using google earth and video conferencing (MS Teams, Skype, Zoom, etc) we can meet remotely with you to discuss your project.