Are you having trouble even looking at your electric bill every month? Are the costs ever increasing and are you looking for a way to save on your monthly utility bill? Then solar panels might be the right decision for you. Solar panels can give you heaps of advantages, such as saving a dramatic amount on your electric bill, doing something great for the environment and being less dependent on the price rise in electricity. But a solar panel system also comes with one big disadvantage: the great investment that is necessary to install solar panels. Sometimes, this investment can get as high as £40,000. On the bright side, it is only a one-time investment and solar panels do not require a lot of maintenance, which means that you have to invest very little in the system once it has been installed.
Nonetheless, a £40,000 investment is too big of an investment for many people. Now, before you immediately say that this investment is to big, you should also consider the potential savings. If you use solar panels for only half of electricity you use in your household monthly, you would save more than £500 even for a small house. If you own a bigger property, you can save even much more. Based on the average price for solar system installation, you would have your investment back within 10 years. Solar panels last on average 25 years, which means that for 15 years you will save an average calls £500 a month or even more. So, solar panels are a very profitable investment indeed.
Nonetheless, if you really do not have the money to invest in solar panels, you might consider a free installation. There are indeed companies out there that offer a free solar panel installation. But now, you probably wonder what the catch is. Well, a free installation is great, but you will have to pay something. If you were to pay for the investment yourself, you would save a huge amount on your electric bill. But if you choose a company to do a free solar panel installation, the company will automatically split the savings between the two of you, and of course the company will take the bigger part.
So is this the disadvantage or an advantage? Actually, it can be both. If you choose to do a free installation, you will enjoy some savings on your electric bill, but they will probably not amount to more than 10%. On the other hand, you will not have to make a great investment in the beginning, as the installation will be for free. If you do choose a free installation, you will also have a smaller price increase in electricity in the coming years. So, eventually you will save more than 10% on your electric bill.
However, if you do have the money to make this investment, you will have saved a substantial amounts after 25 years. And you will still have all the other advantages of solar panel energy. Either way, with solar panels you cannot go wrong.