Solar panel installation has become one of the most financially sound home improvements available to UK homeowners.
Typical Costs
A 4kWp system (12-16 panels) suitable for a medium family home costs between 6,000 and 8,000 pounds installed including inverter. Costs have fallen approximately 60% over the last decade.
What You Will Save
A south-facing 4kWp system in southern England typically generates 3,400-3,800 kWh per year. At 24p per kWh, this represents 816-912 pounds of electricity value annually.
The Smart Export Guarantee
Electricity exported to the grid is paid for under the SEG scheme. Best current rates: 5-8p per kWh. This adds several hundred pounds per year.
Battery Storage
Battery storage systems cost 3,000-8,000 pounds additional. They allow storing solar power for evening use, increasing self-consumption significantly.
Payback Period
Typical payback for a standard installation in England: 8-12 years. After payback you have a 20-25 year asset generating largely free electricity.
