How much does solar power cost?

Solar power has become an increasingly popular source of energy in recent years, as more and more people look for ways to reduce their carbon footprint and save money on their energy bills. In the United Kingdom, the cost of solar power has been steadily decreasing, making it more accessible to homeowners and businesses alike. In this article, we will explore the factors that affect the cost of solar power in the UK, as well as the potential savings that can be achieved by switching to solar.

Factors that Affect the Cost of Solar Power in the UK

There are several factors that can affect the cost of solar power in the UK, including the size of the system, the quality of the components used, the complexity of the installation, and the location of the property. Let’s take a closer look at each of these factors:

Size of the System: The size of the solar power system is one of the biggest factors that will affect the cost of installation. The larger the system, the more expensive it will be to install. However, larger systems will also generate more electricity, which can lead to greater savings over time.

Quality of the Components: The quality of the components used in the solar power system will also affect the cost. Higher quality components, such as more efficient solar panels and better inverters, will be more expensive upfront but can lead to greater savings in the long run.

Complexity of the Installation: The complexity of the installation can also affect the cost of solar power. If the installation requires a lot of customization or additional work, such as rewiring the electrical system, the cost may be higher.

Location of the Property: Finally, the location of the property will affect the cost of solar power. Properties in areas with more sunlight will generate more electricity, which can lead to greater savings over time.

How Much Does Solar Power Cost in the UK?

The cost of solar power in the UK can vary widely depending on the factors mentioned above. According to the Solar Trade Association, the average cost of a 4kWp solar power system in the UK is around £6,000 to £8,000. This price includes the cost of the solar panels, the inverter, and the installation.

However, it is important to note that this is just an average cost and that prices can vary widely depending on the specific circumstances of the installation. For example, a larger or more complex installation will be more expensive, while a smaller or simpler installation may be less expensive.

Potential Savings from Solar Power

While the upfront cost of solar power may be significant, the potential savings over time can make it a worthwhile investment. According to the Energy Saving Trust, a 4kWp solar power system can save homeowners around £240 per year on their electricity bills. Over the lifespan of the system, which is typically around 25 years, this could lead to savings of around £6,000.

In addition to the savings on electricity bills, homeowners can also earn money through the government’s Feed-in Tariff (FIT) scheme. Under this scheme, homeowners are paid for every unit of electricity they generate, even if they use it themselves. The current FIT rate for solar power is 3.85p per kWh, which can add up to significant earnings over the lifespan of the system.

Conclusion

Solar power is becoming an increasingly popular source of energy in the UK, and for good reason. While the upfront cost of installation can be significant, the potential savings over time make it a worthwhile investment. By understanding the factors that affect the cost of solar power in the UK, homeowners can make informed decisions about whether or not to invest in this renewable energy source.