When solar panels first hit the market, people were unimpressed. Their ability to convert sunlight into energy was nowhere near the standard that it is now. On top of this, like most new technologies they were ludicrously expensive. Conventional electrical power sources were significantly cheaper. Things have changed a lot since then.
The efficiency rating of solar panels has skyrocketed. The installation costs have fallen dramatically as the technology has become more widely available. This, along with the dramatic rise in the cost of fuel, has cast solar energy in a very different light.
We’re all aware that we should be working towards an eco-friendly future. But what does that mean for an individual? Or a business owner? Are solar panels not just environmentally responsible, but also one of the best financial decisions you can make in 2022?
Why Solar Panels Are Ideal For Homeowners
The energy price cap increased energy prices by 12% in October 2021 and by 54% in April 2022. This equates to a £700 spike in the average energy bill. Such a massive increase in the price of energy now offsets the installation cost of solar panels. Since 2010, the price of solar panels has fallen by an average of 62%. Now is the perfect time to invest in alternative energy supplies.
Lowers Your Energy Bills
Making any kind of dent in the newly raised energy bills is a welcome relief. You may be wondering what kinds of savings you can expect when you invest in solar panels for your home. Depending on their placement and which system you choose to install, you could be looking at a significant decrease in your electrical bill. In fact, if you choose to invest in a battery to store your excess solar energy, you could even run your home entirely on solar power. These batteries also offer more benefits. They offer you the opportunity to sell your excess power back to the grid. Through the Smart Export Guarantee, you can sell electricity produced by your solar panels back to your own supplier. So, don’t just save money on your energy bills. Make money on them!
A Great Investment For Business Owners
Business owners are able to enjoy all the same benefits as private individuals. It’s environmentally responsible and can save a massive amount of money. In addition to this, there are a number of incentives that specifically benefit business owners.
Even without the recent hike in energy bills, the Climate Change Levy imposes significant costs upon businesses that consume non-renewable electricity, gas and solid fuels. Avoid this additional cost while saving money on your energy bills with a renewable energy source, such as solar panels.
As of April 2022, the government is relieving business rates on a range of green technologies, including solar panels. This is estimated to save businesses roughly £200 million over the course of the next five years.
Contact Protec For Information & Quotes On Solar Panel Supply & Installation
Want to learn more about how solar panels could benefit your home or business? Request a free home survey with Protec today. As long-time suppliers and installers in the industry, we’re happy to walk you through what you can expect from your new renewable energy source.