How Long Will It Take For My Solar Panels to Pay Back?

The energy market has significantly tightened over the last few years, with record electricity bills and fuel shortages being at the top of news headlines across the globe. 2022 alone saw the steepest rise in energy prices, with households paying 54% more than they did in 2020.

Solar panels are growing in popularity as more homeowners look towards alternative methods of powering their homes. Whilst renewable energy sources can help to counteract the pressure of increasing household bills, it is no secret that solar panels can be a costly investment.

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How Much Do Solar Panels Cost?

The Eco Experts found that in general, solar panels cost around €1753 per kWp. On average, the price of a 3.5 kilowatt-peak solar panel system starts from €6135, which is recommended for a three-bedroom house. However, this price varies depending on the brand and model of the solar panels.

Like most things, the higher the quality of your solar panels, the more expensive they will be. However, if the solar panels are efficiently engineered, they are more likely to generate larger amounts of electricity. The overall price of solar panels can also be affected by maintenance and running costs, the upkeep of the systems being key to ensuring they continue to work efficiently.

What Is the Payback Period for Solar Panels?

A payback period is the length of time required for an investment to recover its outlay in profits or savings. In 2022, renewable energy supplied more of the EU¡¯s electricity than any other source for the first time, causing many to consider the change to solar power.

The current economic crisis has seen an uncontrollable rise in gas and electricity prices, causing the payback period of domestic solar panels to decrease dramatically. In October 2020, the payback period for solar panels was just over 16 years, however, according to a recent report, this is now less than 5-6 years.

With help from solar panels, the typical gas-heated household could save up to €1444 every year. However, this figure is even higher for new homes, as newly built developments with south-facing solar panels are expected to save around €3395 a year.

After the COVID pandemic, more people chose to work from home. For those without solar panels, this caused a further strain to be put on their electricity bills. Households who have solar systems will have found that their payback period was significantly reduced just from being at home more often.

Simply put, the more solar energy you consume, the faster you can get your money back.

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What Are the Running and Maintenance Costs of Solar Panels?

There are some additional costs to bear in mind when looking at getting the most out of solar panels. Factors such as cleaning, replacing faulty parts, and carrying out regular checks on the system can all impact the price of solar panels.

Cleaning

To ensure that the solar panels are working efficiently, it is important to keep them clean and clear of debris. Dirt on the surface of the solar panels will reduce the amount of light that the panels can absorb, ultimately reducing their efficiency.

Solar panels can either be cleaned by a professional company or at home with soap and water. Deciding how they are cleaned is a personal decision, some often choose to hire someone to clean the panels due to their height.

On average, the price of cleaning the panels can range from €4 to €15.?

Replacement Parts

Another factor to take into consideration when maintaining solar panels is the inverter. This is a critical part of the system which converts the DC output of the panels into the AC required by the grid.

An inverter has a lifespan of around 25 years, after which it will need to be replaced. This can cost anywhere between €900 and €1100.

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Invest in Solar with Bluetti

Here at Bluetti, we offer a range of portable solar panels to help you collect, convert and store electricity no matter where you are. All our solar panels are easy to use and set up, allowing you to simply unfold the panel and begin collecting your own electricity.

We have a range of Solar Generator Kits which are ideal for use at home or on the road.

Bluetti EB55 + PV200 Solar Generator Kit

With multiple DC and AC outputs, the EB55 + PV200 Solar Generator Kit can run 11 devices simultaneously, allowing you to use everything from your smartphone to mini fridge all at the same time. Paired with the PV200 solar panel, you can charge your solar generators no matter the weather.

The compact and lightweight design makes the Solar Generator Kit perfect to use both on the road and at home. The EB55 is easy to carry, recharges quickly, and performs flawlessly.

Bluetti AC200P + PV350 Solar Generator Kit

With a high AC inverter load of 2000W, the Bluetti AC200P + PV350 Solar Generator Kit has endless capacities. Whether you are at home, in your garden or on the road, you won¡¯t find anything more reliable for producing power for the things you love.