“Plug-in” solar panels will soon be available to buy in British supermarkets, the Government has announced.
It is estimated that these panels could save households around £70 to £110 per year on their electricity bill at a time when energy costs are soaring due to the war in Iran.
Experts told The i Paper these solar panels, which will be stocked by Lidl and Amazon, could be a good option for some, particularly renters or people living in flats.
However, larger systems that are installed by contractors would provide better long-term savings for many households.
Here are the different options and how much money you might save.
Plug-in solar
UK regulations do not currently allow plug-in solar panels that can be plugged directly into a socket to provide a home with free electricity when the sun is shining.
However, Ministers have vowed to change the regulations “within months” and retailers such as Lidl have committed to stocking them.
These panels will be on the market for £400 and the Government has calculated they could save a household between £70 to £110 a year on energy bills, meaning the household would make their money back in around four years.
Gareth Simkins, spokesperson for Solar Energy UK, which represents the solar industry, said this was a “very suitable” option for some people, most notably those who live in a flat with a balcony.
However, he said these solar panels were limited to a capacity of 800 watts, compared with a more traditional rooftop solar array that often has a capacity of around four kilowatts. The latter option generates more free electricity and therefore is associated with larger savings in the long term.
Traditional solar
A more traditional solar system is one that is installed on a home’s rooftop by a contractor and wired directly into the mains.
The average up-front cost is around £6,000, but this can vary greatly depending on the size of the system.
Another key decision is whether to purchase batteries, which can store the excess power generated when the sun is shining to use in the evening. This would roughly cost an additional £3,500 but would provide greater savings in the long term.
While the upfront cost is hefty, these systems are associated with larger savings of around £190 to £350 per year. Households can also make hundreds of pounds per year exporting their unused electricity to the grid.
Russell Smith, Director, Energy at Ecofurb, which gives households advice on retrofits, said it would typically take a household 12 to 13 years to pay off the upfront cost of solar via bills savings, but this would reduce to six to seven years with a battery.
He said this was a particularly good option for people who are already planning to do work on their home, such as an extension or replacing their roof, as they would save money on things such as scaffolding.
“Planning ahead and doing these things in all the right order, you can knock 30 per cent off the cost of doing all this work,” Smith said.
Financing options
There are various financing options available for households that are looking to install solar but don’t want to pay a big lump sum upfront.
This includes subscription services, where a household might pay around £95 per month over a period of 20 years. However, the interest payments mean this would cost you more in the long term than paying upfront.
Some lenders, such as Nationwide and So Energy, are now offering interest-free loans for solar panels thanks to a Government-backed scheme, which is a great option for people looking to spread out the cost of solar over a longer period of time.
Smith said many councils are also offering “group buying schemes” where residents pay a refundable deposit and the council hires a contractor to fit all their homes at once, which drives down prices.
Beware of ‘cowboys’
Simkins and Smith both warned homeowners to make sure they were employing reputable installers with the appropriate qualifications.
“One aspect that is absolutely utmost critical from the industry’s perspective is to make sure that buyers avoid the cowboys because there are some unscrupulous actors,” he warned.
Simkins said households should make sure their installer is MCS-certified, which can be done by checking the MCS website.
Smith advised installers to always get three quotes, make sure the installer is MCS certified and signs a contract with you.
He also recommended getting a “whole house plan… so that you know this fits within the grand scheme of things properly, and you aren’t just chasing a deal or the latest flavour of the month, which actually might cost you more money in the future”.
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