How Long To Pay Off Solar Panels Uk

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.

How long to pay off solar panels uk.

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. Here s how the figures break down for cities in the. Data from the energysage solar marketplace shows that in 2020 solar shoppers who compare their options in the marketplace can achieve payback on their solar investment in about 8 years. The typical lifetime of solar panels is between 20 25 years but some of the best solar panels might stretch beyond this.

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. However there are many factors to consider. Until now that is. Miss the deadline and it would take a working household up to 70 years instead of the current 20 to recoup the average.

So installing solar panels in the north remains a good deal. However cities in the north are not as left behind as one would expect. 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. We ve garnered information from across the internet and compressed it into a bite sized formula.

Here you can see the numbers. 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. That s what we d call a great deal. Photovoltaic pv panels for power and domestic mast mounted wind turbines will take between 50 and 100 years to pay back.

Solar panel payback time in the uk. Government subsidies on solar panels will cease at the end of next march. 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. Given that the devices have a maximum lifetime of 30 years they are.

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.