Cost Benefits of Solar Panels

Why is solar power so important in today’s world and how does it effect us are some vital issues to understand? The traditional energy resources are diminishing day by day, so alternative energy sources must be sought out. The sun is the best source of all energy; it is clean, clear, eco-friendly and does not emit any dangerous by-products.

The cost involved in installing a solar panel on your own roof to provide the required power is as per needs and size and starts at a few thousand pounds and goes up to tens of thousands for industrial systems. The feed-in-tariff makes it mandatory for the energy company to pay all householders producing solar power an amount per unit of electricity. This is a guaranteed payment till 2035, so if your home has solar panels you receive a payment for the next 25 years.

The average cost of the entire exercise of designing, planning and installing a 4KW panel on your roof costs about 12.000 pounds. Moreover, it has been estimated that houses enjoy an increase in property valuation by nearly 10,000 British pounds and more. Installation does not require any special permission; however, a professional installation company can look after such documentations and formalities.

There are three types of panels to choose from, so how do you choose the right one? The most expensive type is the highly efficient mono crystalline solar cells that can be easily installed in a comparatively small area. The next best one is the not-so-efficient polycrystalline solar panel cut out from a few silicon crystals. The third type is the modern amorphous solar panel which has a thin slice of amorphous silicon. This is slightly less efficient than the other two types of solar panels. Now you have to choose from these according to their outputs and your needs.

The Renewable Energy Association formed the REAL Assurance Scheme that makes an installation company legally bound to install a proper solar panel for householders and provide a life long maintenance. The power companies involved in this scheme are also officially responsible to pay the home owners for the next 25 years and more for feeding energy into the national grid.

So does it pay to invest in a solar panel of your own and pay no more energy or electricity bills? Yes it does, the average installation in Leeds is providing a return of between 7% and 10%, where the average temperature is not more than 16 degrees Celsius.