This is probably a good question given that the bad financial situation is still hanging around somewhat and possibly home owners are looking for quick choices to saving money. It’s a shame but solar energy panels, like most other renewable energy choices do not produce excellent short term payback, but instead are a long term payback solution. So it depends on the mind-set of the domestic customer as to whether the solar energy prices of about £12,000 for a standard domestic solar energy panels system, is something they can handle. The standard payback period for this solar energy panels system is in the region of 10 to 12 years, but with an estimated lifetime of about 45 years, once the solar energy prices have been earned, the domestic customer is then making all free electricity. In fact the electricity that is generated by the solar energy panels can be regarded as free from the start, it just depends on how the solar energy prices are considered.
The system of solar energy panels may in fact be a spur to the domestic customer to take a renewable energy viewpoint on their electricity consumption patterns and one aspect that can be looked into easily is that of equipment. The Energy Trust web site has reviews of high efficiency equipment, so possibly with these along with some electricity saving practices the domestic customer may be able to save more money. Of course this may well add more expense over and above the solar energy prices already paid, but in the long run these electricity saving equipment should also be reliable and long lasting and so may well also be good long term purchases.
The standard solar energy panels system is estimated to be able to deliver in the region of 40% of the standard families’ electricity need, but with the electricity saving equipment as well, this percentage must improve. This in itself may well give the domestic customer some sense of achievement in cutting their electricity bills by around 40%, and then saving even more by cutting their electricity consumption. In addition, the domestic customer will receive credits via the feed-in tariff for electricity generated by their solar energy panels and also for any unused electricity that gets sent back to the grid via their utility supply organisation.
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