A new solar panel system can be a significant investment, but costs can be minimised by comparing multiple quotes. GreenMatch simplifies this process, offering up to 4 tailored quotes quickly and easily—just fill out our 30-second form and we'll do the rest. Contact online >>
A new solar panel system can be a significant investment, but costs can be minimised by comparing multiple quotes. GreenMatch simplifies this process, offering up to 4 tailored quotes quickly and easily—just fill out our 30-second form and we''ll do the rest.
Savings estimates are calculated based on the national average household energy consumption and the current price of electricity (Ofgem). This is a broad estimate, and figures may vary according to the size, type, and quality of the solar panel system. (November 2024)
Plus, you can benefit from grants like ECO4 to help cover installation costs. Once installed, the Smart Export Guarantee can earn you up to £108 a year, based on the average tariff rate of 10.8p/kWh.
Labour costs are typically included in solar installation quotes but can vary significantly between installers. Comparing detailed quotes from multiple installers helps you to clarify these costs and find the best rates.
Solar panel insurance is recommended in case they are damaged and need to be repaired. However, in the UK, solar panel coverage is often included in standard home insurance policies. With that being said, it''s important to review the specifics of this coverage and consider additional policies if needed.
Additional considerations include coverage for ground-mounted panels, which may not be included in typical home insurance, and for batteries and inverters, which may require extra coverage for damage not covered by warranties.
For general maintenance, you can schedule an annual service with your installer or a certified professional for £100–£200 or do it yourself for free. The most expensive maintenance will come from replacement of certain components, as shown in the table below.
In the past decade, solar panel prices have significantly decreased, with the installed price of residential systems dropping by 26% from 2013 to 2022. Meanwhile, the cost of solar PV modules alone, not including installation, has fallen by 90% since 2000.
Despite the long-term downward trend, the solar market has experienced some volatility in recent years. In 2022, supply chain challenges and inflation caused price increases. By 2023, prices began to fall again as supply chain issues eased. Check out this continued downward trend in the graph below.
The Smart Export Guarantee (SEG) allows homeowners and small businesses with solar panels to earn payments for surplus electricity sent back to the grid. Systems up to 5 MW (1,000 times the size of a typical home system) qualify, and a smart meter is required to measure exports accurately.
A solar battery can store excess solar panel energy for later use or export under an SEG tariff. Some energy suppliers offer special rates for electricity exported from batteries, which may impact overall battery storage costs.
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