Are Solar Panels Worth it? 9 Month's of Bills Compared, Solar Panels in the UK 2023

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How do panels work?

Panels are typically installed on a roof with good exposure to the sun.

They generate electricity from the sunlight, and anything you do not use to power your home can be sold back to the grid.

All suppliers with at least 150,000 domestic electricity customers must offer panel owners money for their energy and they set their own rates.

Until 2019, homeowners were offered cash payments for the energy they produced and also supplied to the grid via the feedin tariff scheme.

Rates are set by the regulator and are usually paid every three months for up to 20 years.

The rate paid to homeowners for their own generated electricity was initially around 53p/kWh in 2010, but later fell to less than 4p.

The feedin tariff scheme was later abandoned and replaced by the Smart Export Guarantee (SEG). But new solar panel owners no longer get paid for generating their own power.

How much could I save?

The average upfront cost of solar panels is around £4,800. They can last between 20 and 30 years before they need to be replaced.

You could save between £200 and £450 on your bill, while making another £450 selling electricity back to the grid
You could save between £200 and £450 on your bill, while making another £450 selling electricity back to the grid

Trade body Solar Energy UK claims a typical house could reduce its bills by £330 a year with panels and cover the cost of installation within nine years.

Figures from comparison site Energyhelpline.com suggest you can save between £200 and £450 on your bill, while also making another £450 selling electricity back to the grid.

However it will depend on where you live, how many hours of daylight you get, and how much electricity you use at home during the day. In some areas with low levels of sunlight, it could take up to 17 years to recoup the costs.

To get the most out of the panels you may have to change your lifestyle and use your electric appliances, such as your dishwasher and washing machine, during the day.

The savings are likely to be made from using the electricity you generate compared to the rising cost of standard bills, rather than selling the excess back to your supplier.



















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