Investing in solar energy is a smart move – financially and environmentally. One question we get asked is ‘how long will it take to see a return on my investment?’ By designing the perfect system for your property and optimising your system, you can start saving money even sooner.
This article will explore practical ways to reduce your payback period and make the most of your investment.
Choose the Right System Size
At SolarTherm UK we believe that every property is different, we don’t believe in a one size fits all policy that many national companies prefer. It’s why you won’t see solar packages or set prices on our website. The system we design for you will match your usage, lifestyle and future energy requirements. We’ll ask the right questions to find out exactly what you wish to gain from your solar PV system.
If your system is too small, your return may be longer as you will still be purchasing energy from the grid, but in comparison, over-sizing your system will result in higher install costs and could see export limitations put in place.
Don’t Oversize Your Battery
It may be tempting to buy the biggest battery you can afford, but batteries only deliver a strong return when they cycle daily. Having unused capacity doesn’t pay for itself. In general, a smaller battery that will get used daily will pay for itself quicker than a larger battery that’s used to store electricity long term. The only time it is sensible to oversize on your battery is if you are planning an increase in usage in the near future, such as installing a heat pump or purchasing an electric vehicle (EV).
Fit a Hybrid Solar Inverter from the Start
A DC-coupled inverter is more efficient than an AC-coupled inverter if you have a solar battery. When having two separate inverters – one for your solar and one for your battery – you risk losing more electricity as it is converted. Your solar PV panels generate DC electricity which is converted to usable AC electricity for use in your home and export to the grid. Batteries store DC electricity so any electricity you are storing needs converting back to DC.
Don’t Add Extras You Don’t Need
If you don’t need microinverters, optimisers or hot water diverters, don’t add them. The more extras you add to your system the more it costs and the more chance there is of something going wrong. Optimisers and microinverters are good if your roof have high levels of shading at different times of the day or if you have multiple orientations, but most homes don’t require complicated systems and will see the costs far outweigh the benefits causing your payback period to be extended.
Take Advantage of Off-Peak Rates and SEG Payments
Using your solar PV system wisely after installation can also reduce your payback period. Charging your battery and EV on off-peak overnight tariffs for use in the evenings when your solar panels are not generating electricity allows you to export excess energy back to the grid for Smart Export Guarantee payments. While these payments aren’t going to make you a millionaire overnight, they still help reduce your payback period significantly.
Regular Maintenance and Monitoring
Keeping your panels clean and shade free means they will work to optimum output, generating more clean energy and reducing your payback period. Monitoring your system using the generation meter, monitoring app and your smart meter will keep you up to date on your live generation and make you aware of if there is any problems or issues.
Optimise Your Energy Usage
Get smart timers so you can use your high energy appliances during the day while your system is generating electricity. The best way to maximise return on your solar PV installation is with self-consumption – the more energy you use yourself, the less you are relying on the grid and volatile prices.
Choose a Reputable, Experienced Installer
Your system is only as good as your installer. Choose a local installer like SolarTherm UK who is back by MCS, EPVS and HIES to ensure your investment is of the highest quality and your performance and payback estimates are not over-inflated.
At SolarTherm UK, we install only the highest quality solar PV systems – if we wouldn’t put it in our homes we won’t be putting it in yours.
Ready to Start Your Solar Journey?
Contact SolarTherm UK today for your free bespoke design package, tailored for your property, usage and future energy needs. No hard sell, just honest, expert advice.
