Solar panels worth it?

StuffTheCap

Are solar panels worth the installation costs now? Maybe unless you plan on living in the house for 10+ years?
As far as I'm aware, there's no grants/money towards installing solar panels. Not even sure you can sell back the energy.

Benny2020

Then don't install them? is someone forcing you to have them?

gefnew

You could read this forum to become more informed about the pros and cons of solar.
Green & Ethical MoneySaving — MoneySavingExpert Forum

MattMattMattUK

StuffTheCap said:

Are solar panels worth the installation costs now? Maybe unless you plan on living in the house for 10+ years?
As far as I'm aware, there's no grants/money towards installing solar panels. Not even sure you can sell back the energy.

The installed system should both reduce monthly bills and increase the value of the home, however your ROI will vary depending on installation, location and usage.
There is no free money for solar installations. 
You can sell excess energy back, however you are generally better off shifting usage patterns to use as much of the excess as possible rather than exporting it.

Petriix

It seems like solar panels typically have a ROI of around 9 years at current prices. Battery systems would be more like 6 years. However demand is going through the roof and installers are consequently adding 40% to a typical quote, pushing the ROI back up to 13 years.

But it varies massively from person to person depending on usage. So you need to make your own spreadsheet to figure it out. Most people can usefully use about 30% of their generation or up to 60% with batteries.

Sterlingtimes

There are a great many variables and electricity pricing is dynamic. With our house being occupied during the day, we use about 60% of our generation. Our average generation is 3,330 kWh per year our usage is 1,998 kWh priced currently at 28 pence per kWh, i.e. the value is £600 per year. Assuming the price remains at about this rate, the payback on the £6,000 outlay would be about 10 years. 

QrizB

StuffTheCap said:

Are solar panels worth the installation costs now? Maybe unless you plan on living in the house for 10+ years?

If you can get panels installed for £1.20/watt (possible for a basic system) then, with grid electricity at 28p/kWh, export at 7.5p/kWh and assuming you use 1/3rd, export 2/3rds, payback will take just under 8 years.

If system prices fall back to last year's £1/watt, payback falls to 7 years.

(If electricity prices fall to last year's values, with import at 15p/kWh and export at 5p/kWh, payback at £1.20/watt rises to over 14 years [and at £1/watt 12 years].)

mgfvvc

and buying a share in a wind farm co-op may give you a better return and it goes with you when you move.

k_man

mgfvvc said:

and buying a share in a solar farm co-op may give you a better return and it goes with you when you move.

Or even a wind farm

gefnew

Have a look through this forum posts.
https://forums.moneysavingexpert.com/discussion/6127314/green-ethical-investment-news-and-suggestions#latest

Sterlingtimes

mgfvvc said:

and buying a share in a solar farm co-op may give you a better return and it goes with you when you move.

Environmentalists near my home are opposed to the construction of a solar farm at Honiley.