5 Reasons Why You Should Be Installing Solar Panels in 2017
If you’ve been debating whether you should have a solar array installed, 2017 really is the best time to do it. Although the Feed-in Tariff has dropped over the past couple of years, solar panels are still a fantastic and affordable investment thanks to the current low cost of having them installed. We took a look at 5 of the reasons why you should consider going solar in 2017.
1. You can still benefit from the Feed-in Tariff (FiT)
If you want to buy solar panels and have them installed on your house, you will want to research the Feed in Tariff (FiT). It has seen a lot of changes this past year, including the announcement to end small scale solar subsidiaries for solar farms in 2017. The good news is that the FiT subsidiaries for domestic installations are still available for systems installed by MCS certified firms. Currently the FiT rate stands at 4.14p/kWh generation rate for a 0-10kW system with an export tariff of 5.03p/kWh as of the April 2017 government tariffs.
2. Affordable solar storage batteries are now available
Last year was a big year for solar storage batteries and the market has grown even further now we’re well into 2017. Tesla have announced their Powerwall storage system and other companies like Powervault are also presenting their offering to the market. These new affordable batteries mean more homes than ever will be able to store their excess storage as opposed to selling it back to the grid. This stored power can then be used in the early morning and evening when households tend to use the most energy. Whilst you can earn money from the export tariff by selling your excess solar energy, you get less than what you pay to use power from the utility companies when you can’t use solar – meaning a battery is far more economical in the long term. Get a Quote
3. The best Solar panels are currently cheap to install
Solar panel costs has dropped dramatically over the past few years thanks to an increase in demand and the development of new technology. In 2010 a 4kw system would have cost over £12,500, but now 7 years later the cost is almost half of that at around £6,512*. Whilst the FiT payments might have dropped, this reduction in solar panel installation cost helps to balance this out. You can find more information about the price of solar panel installation in our guide to solar panel costs, benefits and savings. If you would like to find out the average payback time for a system based on its size, installation cost and the current FiT rate you can use the Solar PV Feed-In Tariff Calculator.
4. Protect yourself from any changes in energy tariffs
Having a solar array to generate the majority of your energy means you pay less for electricity from the utility grid. The new affordable generation of solar storage batteries will also increase the number of households who are entirely self-sufficient, meaning they don’t rely on the grid for any of their energy. This is great for anyone who wants to protect themselves from any changes in energy prices and tariffs that might be coming in 2018.
5. Reduce your carbon emissions
Whilst it’s not specific to 2017, reducing the amount of carbon emissions your home produces is still a huge factor in many people’s decision to go solar. Abundance Generation suggests that a home solar system on a single British house can save almost a tonne of CO2 per year! With solar storage also set to take off over the coming years, this figure could rise as homes with solar find themselves less dependent on the grid.
*Based on average quotes shown in our Solar PV Calculator correct as of April 2017