Are solar panels financially viable?

Many people are looking for ways to cut their energy bills and reduce their consumption, and as part of this sustainable energy initiatives have become more popular. Solar panels offer one possible system for reducing your energy use and enjoying cheaper, cleaner energy, but are they worth the initial investment?

When technology firms were first exploring ways to harness solar energy for use in homes and businesses, it was the case that the cost of producing solar panels generally outweighed the value of the energy they would produce across their lifespan. Millions of pounds were spent on researching and developing these panels. This meant that at that time, in the short term solar power was not a financially viable option for most. However, in the long term this development stage was essential to deliver the solar technology we have today.

In practical terms, contemporary PV solar panels installed by skilled electricians usually pay for themselves within three to four years of use in terms of energy savings. They have a lifespan which goes on for considerably longer than this payback period, meaning that solar panels are a long term investment which will keep on giving back as the years go on. In the modern day, solar panels are a financially sound investment which will not only help you to save on your energy bills over the years, but also enable you to cut your impact on the environment and make use of sustainable, green energy in your home or business.

As leading electricians working throughout the Staffordshire area, we are aware of the great value and benefit which comes from PV solar panel installation. Every hour sees our planet receive enough solar energy to meet all our energy requirements for close to a year. Installing solar panels on the roof of your building enables you to take advantage of this in a very cost efficient way. Contact us today if you would like to learn more about the many benefits you could experience from solar panels.