Solar Panel - is now the time to invest

JoeyLouy

Given soaring energy prices and the much improved batteries that are available these days, I think that solar panels must be a sensible investment right now. Surely the pay back period for Solar panels must be greatly reduced in the current climate?
what confuses me is that I am not seeing the government suggesting it as a way to mitigate the current energy crisis and I’m not seeing experts such as Martin Lewis pushing it right now.
So before I go and jump in with both feet, I thought I’d reach out here and ask what other people think? Am I missing something? Is this an obvious investment right now, or is there a reason why I should think twice?
I’ve had an installer out, I have suitable roof space, I’m expecting to stay at current address for at least the next 10 years. 

It would be great to hear other peoples thoughts? And any recommendations on makes of solar panels / batteries and good installers would be great?
Thank you  

[Deleted User]

https://forums.moneysavingexpert.com/discussion/6382577/solar-panels

https://forums.moneysavingexpert.com/discussion/6382554/solar-panels-cumbria

[Deleted User]

Fine if you can get them, better if you add an expensive battery or shift your use to make best use.

Big bills are mainly space heating in winter though - a panel on your roof isn't giving much heating in mid December.

QrizB

The best time to fit solar panels was a decade ago.

The second best time is today.

Unfortunately most of the reliable installers are booked solid for the next 6-18 months.

[Deleted User]

Most homes with PV solar use somewhere between 25 and 50% of the energy generated. If your normal consumption is 4000kWh/year and you had a 4kWp array, then you could save up to 2000kWh of imported energy. 

If the SVT pice was 50p/kWh, then this would save you about £1000 per year plus about £150 for exported energy.

PV solar prices have increased. I have no idea by how much but it used to cost about £1000 per 1kWp of solar. If prices have risen by 50%, then the total cost of installation might be £6000.

If you can use 50% of the output, then you break even point is 6000/1150 or 5.2 years.  If solar usage fell to 25%, then the break even point is 6000/(500+225) or 8.3 years.

Clearly, a battery helps but it could cost as much as the array and the payback period is longer.

As articulated above, the big problem with solar is that it is not available when you most want to use it.

[Deleted User]

£6000 at the moment would probably get you a 2.5kWp system - budget £10000 for a 4kWp system, with at least £3500 for a decent battery.

[Deleted User]

[Deleted User] said:

£6000 at the moment would probably get you a 2.5kWp system - budget £10000 for a 4kWp system, with at least £3500 for a decent battery.

With those prices, it makes my 6.35kWp integrated roof array with SolarEdge for £7000 look like a bargain.

[Deleted User]

Absolutely - prices have doubled in the last few years.  And with the FiT stopping, I'm not surprised that it's not been talked about much.  I wonder if the lack of installer companies has been the major impact (a lot closed when the subsidies stopped).

Saying that, I've seen a lot of ex-solar installers who are suddenly heat pump experts now that's where the government money goes.

[Deleted User]

[Deleted User] said:

Absolutely - prices have doubled in the last few years.  And with the FiT stopping, I'm not surprised that it's not been talked about much.  I wonder if the lack of installer companies has been the major impact (a lot closed when the subsidies stopped).

Saying that, I've seen a lot of ex-solar installers who are suddenly heat pump experts now that's where the government money goes.

My array is not yet 2 years old and installed by a reputable renewable energy installer. It sounds as if installers are trying to make up for the Covid years.

QrizB

[Deleted User] said:

Absolutely - prices have doubled in the last few years.

Prices have not doubled in the "last few years". They haven't doubled at all.

Last year, prices had fallen to around £1/Wp installed. Right now, the prices being shared regularly on the "Green and Ethical" forum are in the £1.20 - £1.30/Wp range.

[Deleted User] said:

£6000 at the moment would probably get you a 2.5kWp system - budget £10000 for a 4kWp system, with at least £3500 for a decent battery.

Those prices do not reflect the quotes peoiple are actually receiving right now.

See for example here, here and here.

rjmachin

Deleted_User said:

£6000 at the moment would probably get you a 2.5kWp system - budget £10000 for a 4kWp system, with at least £3500 for a decent battery.

I have had a 5.18kWp array fitted last month.  It cost me £5216 installed.

In the next few weeks, I am also having a 5.8kWh battery fitted (ordered in May) for a cost of £4426 installed.