solar cells bulk

solar cells bulk

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If you are thinking about getting PV solar panels installed you will want to know if your investment is going to pay off. Are you going to earn back your initial investment and is it going to be worth your while?

There are more than just financial factors to be taken into consideration. You may want to install panels for ethical or environmental reasons. These sorts of factors cannot easily be given a monetary number. You can measure things such as the amount of carbon you are saving but it is also difficult to put a value on this.

This is the reason we are only going to focus on the financial factors that you can measure. We will look at the financial aspects of getting photovoltaic solar panels installed rather than looking at the factors we cannot easily measure.

So let us take a typical 2kWp installation that many households would have installed. If you shop around you can get a unit installed from around 9,000 UK pounds, you can however pay as much as 16,000 UK pounds. There are several reasons for the difference in costs which we will not go into detail now.

Suffice to say some panels cost more as they are more efficient and convert more of the sunlight into electrical energy. There is a wide range of prices charged by installers across the country. You will have to do your research to get the best installation possible for the lowest cost.

S we know we are going to have to outlay between 9-16,000 UK pounds to get the panels installed. So lets look at how much we will earn back from the panels. The energy savings trust has come up with some figures that give us a good idea on how much we can earn back.

There are 3 components to take into consideration. Firstly there is the cost savings as our electricity bill will be much lower. This is estimated to be around 120 UK pounds per year. Not very much but your results will vary and electricity and as prices increase.

The second number to add to this is the export tariff, this is the amount that you are paid for the electricity that you export back to the grid. This is estimated to be around 30 UK pounds, not a very high figure.

However the bulk of your return will be from the governments fee in tariff that is estimated to pay you back about 770 pounds per year. This payment is guaranteed for 25 years.

So if we tally these figures up you can expect to earn or save around 920 pounds a year. Multiply that by 25 years and you get 23,000 which is much higher than even the most expensive installation cost. This mean that you will be between 7,000 and 14,000 better off after 25 years.

Find out how getting solar panels installed can be a better investment than saving your money in a bank account. Find out more at the free solar panels website.

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