While it does currently require an upfront cost, solar panels can help you save money and pay for themselves in time. However, at the moment the payback period is about 10 to 12 years.
The cost of installing solar panels varies depending on:
- where in the UK you live
- the installer you choose
- the panels you want
A typical solar system can cost around £6,100 to install. Once installed, a solar panel system can pay for itself in at little as nine years.
To get an idea of how much a solar panel system could cost and how much you could save, try our solar panel calculator.
The UK Government’s Warm Homes Plan includes plans for grants and loans for solar power too, which could make it even more affordable.
After the initial installation you can expect your solar system to last for 25 years. Usually, the manufacturer’s warranty will cover any faults with your solar panels. But always check this is in place and how long it lasts before going ahead with your installation.
During this time, you should maintain your solar panel system regularly. You’ll also need to change the solar panel inverter after about 10 to 12 years.
You can expect to pay around £800 to replace your inverter, depending on the size and manufacturer of your system.