How Long To Pay Off Solar Panels Uk

We ve garnered information from across the internet and compressed it into a bite sized formula.

How long to pay off solar panels uk.

There s no denying that solar panels are a long term investment but given the potential for both saving money on energy bills and earning from the energy you put back into the system solar panels can actually pay for themselves over a period of time. Miss the deadline and it would take a working household up to 70 years instead of the current 20 to recoup the average. However cities in the north are not as left behind as one would expect. In plymouth it takes only 8 4 years for a domestic solar panel installation to pay for itself compared with the national average of 9 5 years.

Here s how the figures break down for cities in the. Until now that is. Dividing 14 200 by 1 734 gives a solar payback period of about 5 8 years even if electric rates don t go up between now and then. However there are many factors to consider.

Given that many solar panels and inverters come with 25 year product warranties you can expect more than two decades of trouble free operation from your solar array. This tricky question of how long it takes for solar panels to pay off has kept homeowners up at night ever since solar panels met roofs. Here you can see the numbers. So installing solar panels in the north remains a good deal.

Government subsidies on solar panels will cease at the end of next march. After your investment is paid off your solar panels will continue to generate clean electricity for free and will continue to do so for as long as your equipment lasts. While the national average is 9 5 years it takes only 8 4 years in plymouth exeter and truro the top three for a domestic solar panel installation to pay for itself. Solar panel payback time in the uk.

That s what we d call a great deal. Those solar shoppers will continue to enjoy free electricity for the life of their solar panel systems which can last between 25 and 35 years. Given that the devices have a maximum lifetime of 30 years they are. If their solar panels were fully connected by september 2020 they d be paid off before the summer of 2026 and will keep making electricity until at least 2045.

That gives plenty of time for those initial costs to be covered so you can start making a profit on your investment in solar energy.