Is now a good time to install solar panels?
Over the past five years, we’ve seen energy prices fluctuate hugely – which has understandably driven up demand for solar panels. While energy prices are lower than their 2022 peak, there are still plenty of factors that can make getting solar panels a great financial and sustainable decision. We look into some of those today.
It’s cheaper to use your own solar power than power from the grid
Energy that you buy from your energy supplier tends to fluctuate throughout the year. In winter, wholesale prices increase due to demand – meaning your prices likely go up. In summer, there is less demand, so wholesale prices come back down again – which again will be passed onto you by your energy supplier.
Installing solar panels and generating some of your electricity at home is a great way to protect yourself from these price fluctuations. Most homeowners with solar panels end up using around 50% of the power they generate in their homes; and with solar and battery this rises to around 75%.
This alone could cut the average family’s energy bill by £350 – £550 each year.
Annual cost savings
Rich and Cath share how much their solar panels and Tesla Powerwall save them in their energy bills each year.
Export tariffs pay generously for the power you export to the grid
Export tariffs have come a long way in the last couple of years, and now offer homeowners a great way to earn money from their solar power when they aren’t using it in their own homes.
At Good Energy, we pay customers that get solar panels and battery storage installed by us a market-leading 40p/kWh that they share wtih the grid for 12 months.
Customers with our 10 solar panel and battery package can expect export earnings of around £320 in the first year, based on exporting 25% of the power they generate.
This is in addition to the savings they make from using their own solar power at home, bringing total savings in the first year up to around £900*.
These earnings are passed onto customers as a credit on their bills – hugely helping to offset the energy they use in the winter months.
For customers without battery storage, we pay 15p/kWh – which adds up considering these customers will likely export 50% of everything they generate. Customers that choose to install our 10 solar panel package could expect earnings of around £240 a year in addition to their at-home-savings. This brings total yearly savings to around £600**.
How much you could earn depends on how much you export. Read some case studies to see how much some of our customers are earning from their Solar Savings export tariff.
Winter is a great time to get solar panels installed
You can get solar panels installed at any time of year. They generate the most amount of electricity when the sun is higher in the sky from April to September, when there is over 12 hours of daylight each day.
But they will still generate electricity in autumn and winter, and even on cloudy days. This means that you’ll start saving on your electricity bill whatever month you have them installed – and keep saving for decades to come.
Most people opt to get solar panels installed in the summer, leading to longer waiting lists. At this time of year, you can have your solar panel survey and installation more quickly, and start offsetting your winter energy bills.
With solar panel packages starting from as little at £6,450 – now is a good time to get solar panels installed. Complete our no-obligation solar quote journey to find out more.