Is Solar PV worth the Investment?

If you’re reading this blog you’re likely on the journey that thousands before you have been on. You’re browsing the internet after becoming interested in the idea of solar pv and how it can save you money but the question that still burns away at you is:

‘Are solar panels worth the investment?’

There is no simple way to answer this question. As with most things, it’s a mixture of yes and no.

As an expert Solar PV Installer many believe that I will automatically wax lyrical about the investment in Solar PV being worth it but that isn’t the case. In some circumstances it simply isn’t worth the investment and I find myself having to have that conversation with potential customers – turning down work which would pay for my mortgage and ever increasing energy bills! I tend to explain that much like a loft conversion, sometimes it just isn’t feasible or cost effective.

In essence, ascertaining whether or not Solar PV is worth the investment comes down to a few questions:

Does your home have a big enough roof with space for solar panels?

If your home has a roof that can only fit a very small amount of solar panels then it’s likely not a sound investment as you would need an extra roof to fit more panels. Sometimes this can be done by utilising a garage roof but more often than not it’s an honest no from me as an expert Solar Pv Installer. There are other options such as installing a battery storage system that charges off cheaper overnight tariffs such as economy 7 but this blog is about whether solar PV is worth the investment so I will save that for another time.

In short, it’s important to consider whether you will be able to fit enough Solar Panels on your roof to truly take advantage of their energy generation. This plays a key role in whether or not Solar PV is worth the investment for you.

Are you planning on staying at this house for at least the next 5 years?

Solar panels once fitted to your home aren’t something you can just take off and move to another property, It can be done but the cost cannot be justified.  With that being said, if you are planning on moving in the not too distant future I wouldn’t recommend installing Solar PV as an investment. Maybe over the coming years with new build homes having solar pv installed as standard this may push the prices up of homes with solar already fitted. Personally I would pay a little extra for a home with solar already fitted as I know the benefits outweigh the extra cost.

To summarise though, if you don’t see yourself staying at your current property for at least 5 years, I would suggest that currently, solar PV would not be worth the investment for you.

Is your roof in good condition?

Surely you would think this is an obvious question that homeowners would know the answer to, but in actual fact a lot of people don’t know the condition of their own roof. I have previously sent surveyors to jobs to weigh up solar pv installation and received the dreaded phone call “we cannot install a system on here because the roof is in poor condition”. I will be honest and say this doesn’t happen very often but It has happened before and will no doubt happen going forward. Replacing roofs isn’t one of our services but I have a good idea what they cost and coupling this to solar PV you would probably need to sit down before I told you the final price.

Ensure that your roof is in good condition prior to attempting to install Solar PV.

Do you own your home or do you have your landlords permission?

If you’re in rented accommodation you wouldn’t just put an extension on the rear without speaking to your landlord and the same applies with solar PV. Maybe if you have a nice landlord they will allow you install solar PV but bear in mind the payback periods and how long your tenancy agreement is for. Maybe if you have a very nice landlord they will contribute towards the system as it will lower the EPC rating of the property which will have to be even lower with new regulations being proposed now but otherwise be very careful, nobody wants to spend their savings on a system that they can potentially no longer benefit from in 12 months time.

In essence, it’s important to ensure that you’ll see the long term benefits from installing Solar PV. If you don’t own your home it’s absolutely paramount that you discuss this with the homeowner and ascertain whether or not you’ll reap the rewards later down the line.

So we circle back to the original question – Is Solar PV worth the investment? Have you answered yes to the above questions? If so, it’s worth looking into solar PV and how it can help lower your bills whilst future proofing your energy bill outgoings.

Its not always as simple as just answering yes to these questions but, these are usually big stumbling blocks that put a halt on things! We would always suggest that you contact one of our team who are all experts in Solar PV and highly qualified and accredited.

Spectra Solar has systems that suit any budget, our prices are fixed and some even on our home screen for you to see.

I am going to write more of these blogs to try and help with deciding on Solar PV and if is it right for you. If you have any questions you would like answering (a good question might just make its way onto here!) these please feel free to email info@spectrasolar.co.uk FAO Mike.