Could you be one of the 84% of UK households seeing a reduction in their energy bills after installing solar panels?
As the energy price cap is about to rise again, you may be looking at ways to save money on your energy bills, and if you are already being frugal it can be a struggle to find more ways. Making your home more energy efficient or generating your own electricity is the next step.
In a recent Halifax survey, 49% of those surveyed were concerned about rising energy prices and saw it as a key challenge for them. Over half of the homeowners surveyed had recently adapted their home to make it more energy efficient by installing insulation, double glazing or solar panels. And of those who installed solar panels, 84% were already seeing savings on their energy bills. But how does this stack up?
If we take an average three bedroom house in South-East England that has a medium electricity usage, they could save over £1,000 per year on their electricity bills!
How did we work this out you might be thinking. Well, a house of this size could typically accommodate a 12 panel solar system, and if it was combined with a battery to store the electricity, it could maximise the use of electricity generated and save more money. This size of system can generate 4,728.12kWh each year and create a saving of £1,008.47 which is made up of £771.75 electricity bill savings and £236.72 export payments for unused electricity.
So that’s the first year’s savings, but what about the savings you could make year on year and over the lifetime of the system? Medium electricity usage for a household is 3,500kWh per year and for example, the tariff they pay is 24.5p/kWh and a standing charge of 60.1p/day. The annual cost of the electricity bill is £1,076.86. The solar PV system with battery storage can last 30 years, and based on inflation only being applied to the electricity prices (so it could be higher when including standing charges), the predicted average annual savings over 30 years is £2,431.15. Now when you take into account the cost of installing the system and replacement parts the savings over 30 years total a massive £57,689.37!
Now that is food for thought, isn’t it? If we have whet your appetite for solar panels and you want to know more about whether your home is suitable and what you can realistically expect to get from the system, then contact us for a no obligation discussion and quote. As a local installer, we are an honest and reliable company with great recommendations, so you can trust that we will offer great service. Just fill in our quick and simple form, and we will get back to you!
