Solar Panels: Money Saving Machine or Myth?

Solar panels are portrayed as a great way to save money! But do they really save you money?  

The government recently ended incentives for generating solar energy in your home, but they can still help cut your energy bills!  

Here are the most important need-to-knows about solar panels –  

You can still switch energy suppliers!  

Having solar panels does not mean you are locked in with a certain energy provider, so feel free to shop around to cut down those energy bills! Many suppliers support the feed-in tariff, and this is also mandatory if a supplier has over 250,000 customers!  

Furthermore, you can also have different suppliers for your energy and your feed-in tariff, so make sure you are always on the cheapest deal possible!  

Having Solar Panels could affect your property value!  

An efficient property generating its own energy is seen as a more attractive purchase to buyers, so do keep this in mind when investing in solar panels!  

However, do remember that investing in solar panels is a long-term gain, so don’t expect for your property value to jump up straight away!  

Solar panel incentive payments have now ended!  

Solar panel incentive payments ended in March 2019, so anyone generating electricity and exporting it to the grid will no longer receive payments!

However, this is only for people who installed them after March 2019, so if you already have solar panels, rest assured you will continue to be reimbursed!  

Despite this, having solar panels still positively impacts your energy bill, so don’t let this put you off!  

South over North!  

Solar panels are all about daylight, and not sunshine as expected!  

Southern areas get more daylight than northern, so where you live impacts how effective solar panels could be for your bills!  

Low maintenances, high savings!  

Solar panels need very little maintenance, and yet can help give you big savings on your energy bills!  

However, do be aware that you’ll need to replace the inverter, which is a key part of the mechanism, every 25 years!

However, the savings made by solar panels should outweigh the price of the inverter! You also get a 20- year warranty when purchasing solar panels, and if they are damaged by the weather, such as storms for example, buildings insurance should also cover this!  

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