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Home PV solar panel installers

Savings Calculator – Energy cost savings from installing solar panels.

We are all keen to help the environment, but most people want to see that it makes financial sense to invest in solar panel systems.

The “Savings" or the financial argument depend largely on whether you are funding your Solar Investment by borrowing or using Savings.

Select one of these 4 criteria:

Area m²
No of Solar Panels
Solar System size (kWp)
Price inc VAT (£)
Your Estimate:
Annual income
Income over 25 years
Payback
Annual returns

 

 

 

 

 

 

 

 

 

 

 

 

 

Your PV Solar installation will be carried out in-house using MCS Certified Products and an MCS Certificated Installer who will complete the final connections, testing and commissioning which will give your solar system its MCS Certification and its qualification for the Feed in Tariff.

Borrowers

For you “pay-back� is important, you need to know that if you borrow the money it will pay you back everything you’ve borrowed, plus all the interest. Using a 2.1kWp solar system as an example and assuming the estimated cost of £10,900 had to be all borrowed, work out the total cost of borrowing that money. Looking at the total income over 25 years of £49,453, in most cases pay-back would be in around 10 years, everything after that, profit. For borrowers, who tend to move house more often, the question is, “will it add value to my property?�. To be honest, at the moment, that’s a difficult one as asking two estate agents may give you wildly differing answers, but as time goes on and probably by the time you move, it will add value, see (article: The Times March 3rd 2010 - Houses with Low Energy Efficiency). In the same way if you were buying a home without double-glazing, you would be allowing for the fact you would be installing it, it won’t be long before solar energy is seen the same way. Let’s face it, if you were selling a house with not only no Electricity Bill, but an income, it has to make in more interesting and sell quicker!

Savers (Investors)

We would argue that if you are funding a solar panel system from savings, and those are in the main retirees, pay-back is irrelevant. When you retire, you have capital which is very difficult to add to and it has to work, returns from banks and building societies are not even keeping up with real inflation. A return of 6 - 8% pa which is tax-free, index-linked and guaranteed for 25 years has to be better than 2 or 3% which is taxed! In fact if your financial advisor was offer that you’d be asking “how much can I put in�, not “how much does it cost�. You could argue that whilst it’s an excellent return, you’ve lost the capital, as it’s adding value to your property see (article: The Times March 3rd 2010 - Houses with Low Energy Efficiency), it’s no different from any other long term investment.

So whether you are a borrower or a saver, find out if there is a solar panel system for your budget which is a better deal than giving ever-increasing amounts to the electricity company and seeing nothing in return.




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© The Solar Installers Ltd, Company Number 6451709 incorporated in England & Wales. Registered Address: Kings Lodge, London Road, West Kingsdown TN15 6AR
The Solar Installers Head Office in Crawley - First Point, Buckingham Gate, Gatwick RH6 0NT | T: 01293 749 007 | F: 08458 628 610
The Solar Installers in Bournemouth - Unit 87, 2 Lansdowne Crescent, Bournemouth, Dorset BH1 1SA | T: 01202 816 010 | F: 08458 628 610
The Solar Installers in Newport - The Innovation Centre, St Cross Business Park, Monks Brook, Newport, Isle of Wight PO30 5WB T: 01983 727 006 | F: 08458 628 610
The Solar Installers in Bishop’s Stortford - Wilton house, Hockerill Street, Bishop's Stortford, CM23 2DW | T: 01279 729 069 | F: 08458 628 610