What is the typical payback time ?
The typical payback time would be in approximately 8-12 years, after this time the remaing 13-17 years would be profit (this does not allow for future energy price increases). Which would mean payback time would be reduced.
Is there any ongoing maintenance required ?
Maintenance is minimal. Solar panels are guaranteed by the manufacturer for 10 years based on performance of 90% of its original power output, and up to 25 years after installation based on a power output of 80%. Solar PV has no moving parts which means this is a great renewable energy option. There are solar PV installations approximately 40 years old that are still going strong!!. Inverters are guaranteed by the manufacturer for 5 years, with an option to extend for up to 10 years.
Will my property value increase with the installation of solar panels ?
Study’s have shown people will pay up to £10,000 more for a property installed with renewable energy, i.e. solar PV. Your property will be more attractive to a potential purchaser as it will have lower running costs.
What is the difference between solar PV and solar thermal ?
Solar PV panels produce electricity which when linked to the national grid through and inverter provide you with approximately 50% saving on your electricity bill and a yearly income of around £1,000.
Solar thermal panels are used to heat the water in your hot water cylinder and can provide you with approximately 60% of your yearly hot water needs. |