As everyone’s financial situation is different there is no way to answer definitively whether solar energy is a good investment opportunity for you. What it is possible to say, however, is that over a long period of time, solar panels will make you money. Whether the short term losses are worth these long term gains, however, is a question that each individual has to answer for themselves.
Why are Solar Panels Good a Good Investment in the Long Term?
Why is it that we can say that solar panels are a good investment in the long term? There are two reasons.
Save Money on Electricity Bills. The first reasons that solar cells are a financial benefit in the long run are that they are constantly saving you money on your electricity bills. As soon as the solar panels are installed on your roof this will be the case. Of course you also have to weigh this against the cost of installation, which is quite high, so it takes time for the savings on electric bills actually make the solar panels worthwhile. However there is now another way that solar panels generate money.
The Feed in Tariff. If you are just counting on the saving made from electrical bills it can take two decades or more to pay off the initial installation costs. That is why the UK government introduced the feed in tariff last year. The feed in tariff pays you for all the electricity you generate for the national grid. The solar panels will be generating solar energy all the time that the sun is shining on them (even through clouds) and you won’t end up using all of that energy yourself. The electricity you do not use is redirected along electrical wires so that other people can use it. You are then paid for this electricity. The upshot of this is instead of taking two decades to pay off the installation costs, it should take less than ten years. After that, you will actually be making profits from your solar panels. This is why, since the introduction of the feed in tariff, that has been a huge increase in the uptake of solar energy across the country.
Those are the reasons that solar energy makes good sense financially in the long term. But why choose solar energy over other forms of investment?
Environmental Benefits of Solar Energy
Although the feed in tariff makes solar energy more financially viable, that is not the main reason that most people choose to invest in solar energy. In fact, most people would like to be able to take advantage of solar energy, and it is only the costs that stop them. The main reason for this is that solar energy benefits the environment. It is a totally clean and safe form of energy production, and reduces the amount of electricity that has to be created by using polluting fossil fuels.
So whether you are just looking to make some money in the future, or you want to be a part of improving the Earth’s environment as well, solar energy is now a good investment for many people. If you would like to take advantage of this opportunity, contact Solar Energy UK for more information on getting solar panels installed on your roof.