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How Much Do Solar Panels Cost In 2024?
Cost of One 350W Solar Panel: £786 on Average
Solar Panel System for Three-Bedroom House: Typically £7,860
Cut Your Electricity Bills by 70% with Solar Panels
Now is the perfect time to go solar! Solar panel costs have plummeted by 82% since 2010, says the International Renewable Agency (IRENA). And as electricity prices rise, you could save £537 a year – that’s around 70% off your bills. That’s a big deal, especially with the current energy and living costs squeeze.
On top of that, it takes just 14.6 years for an average household to pay off their solar investment. That leaves you with at least 10 years of pure profit! No wonder over 1.4 million UK homes now have solar panels, as per the latest from the Microgeneration Certification Scheme (MCS).
Ready to get solar panels? At Eco Fluentia, we suggest getting up to five quotes before deciding. We’ve got you covered with our free quotes form. Just give us a few details, and our trusted installers will send you free quotes to compare.
How Many Panels Do I Need For My House?
|
Property size
|
Annual electricity usage
|
Number of solar panels
|
Average cost*
|
Total annual savings
|
Total savings after 25 years
|
Time it takes to break even
|
|---|---|---|---|---|---|---|
|
1 bedroom house |
2 bedroom house |
3 bedroom house |
4 bedroom house |
|||
|
900 kWh |
1,800 kWh |
2,700 kWh |
4,100 kWh |
|||
|
3 |
6 |
10 |
14 |
|||
|
£2,358 |
£4,716 |
£7,860 |
£11,005 |
|||
|
£161 |
£322 |
£537 |
£752 |
|||
|
£1,671 |
£3,342 |
£5,571 |
£7,799 |
|||
|
14.6 years |
14.6 years |
14.6 years |
14.6 years |
Keep in mind, these prices are from March 2023 data from the Microgeneration Certification Scheme (MCS), along with the average electricity prices from January-March 2024, and Ofgem’s latest typical domestic consumption values from 2023. Additional expenses may apply for more intricate installations. The provided estimates exclude the expense of a solar battery.
How Much Will Installing Panels On My Home Cost?
According to our calculations, solar panels typically cost around £7,860 for a three-bedroom house.
This price reflects an average 3.5 kilowatt-peak (kWp) system, suitable for a standard three-bedroom home. “Kilowatt peak” measures a solar panel system’s power output under ideal conditions.
On average, solar panels are priced at £2,246 per kWp. For smaller households with one or two bedrooms, a 2.1 kWp system, costing approximately £4,700, is usually sufficient. Conversely, larger homes with four or five bedrooms might require a 4.9 kWp system, priced at around £11,000, based on MCS data.
Several factors influence solar panel costs, such as your specific circumstances. Each solar panel system is tailored to fit your needs, as mentioned by solar panel installers, Everyone’s Energy. Factors like roof size and shape, roofing type, house height, cable placement, and more can impact pricing.
For instance, higher-quality panels may come with a higher initial cost, but their superior efficiency can lead to greater electricity generation over time—especially with regular panel cleaning.
How Much Extra Is It To Add Battery Storage?
The typical expense for a solar battery in a three-bedroom house is around £4,500.
A solar battery is designed to store surplus electricity produced by your solar panels during daylight hours, enabling its use after sunset.
By incorporating a solar battery, you can generally utilize an additional 30% of your solar energy. However, the break-even point is extended by about ten years due to batteries’ average lifespan of around 12 years. It’s important to note that you may need to purchase two batteries over the 25-30 year lifespan of your solar panels.
| Property size | Annual electricity usage | Number of solar panels | Battery size | Solar-plus-storage system cost |
|---|---|---|---|---|
|
1-2 bedrooms |
1,800 kWh |
6 |
4 kWh |
£9,716 |
|
3 bedrooms |
2,700 kWh |
10 |
8 kWh |
£16,860 |
|
4+ bedrooms |
4,100 kWh |
14 |
9.5 kWh |
£22,005 |
Adding a solar battery to a solar panel setup typically costs £2,500 for a smaller house and £8,000 for a larger home.
The capacity of the battery directly impacts its ability to store electricity and the resulting benefits. Naturally, higher capacity batteries entail a higher initial cost.
For further insights into this technology, refer to our comprehensive guide on solar battery costs. Additionally, to identify the most suitable options for your home, explore our guide on the best solar batteries.
Solar Panel & Battery Cost Calculator
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What Are The Labour & Parts Costs Of Solar Panels?
The expenses associated with solar panel installation primarily comprise:
- Parts: This includes the materials utilized, such as solar panels, cables, inverters, etc.
- Business costs: This encompasses your installer’s overhead expenses, covering items like scaffolding, obtaining approvals/planning permissions, as well as vehicle and travel costs.
- Labour: This involves the installation work carried out to set up the solar panel system.
Solar Panel Material Costs: £2,100-£5,000
Typically, 40-50% of the total installation expenses cover material purchases, including panels, brackets, and an inverter. For an average three-bedroom household, this sums up to approximately £3,500.
An inverter converts the direct current (DC) electricity generated by panels into alternating current (AC) electricity, usable for home appliances.
Installation companies typically add around a 30% markup on material costs to generate profit, which is standard practice across various industries.
Solar Panel Business Costs: £1,700-£3,900
Approximately 30-40% of the overall cost is allocated to covering the installer’s business expenses, such as regulatory approvals, vehicles, fuel, and scaffolding.
For an average 3.5 kWp solar installation, this amounts to around £2,800.
Solar Panel Labour Costs: £900-£2,200
The remaining 10-30% of the expenditure is attributed to labor expenses, compensating the individuals responsible for installing the panels and associated equipment.
This cost range encompasses all domestic installations, including larger ones with more than 20 panels.
Considering the value proposition, opting for professional installation proves beneficial. DIY endeavors might incur costs approximately £3,000 higher than hiring a skilled installer with access to trade pricing.
It’s essential to exercise caution against installers promoting limited-time offers. Instead, seek quotes from reputable installers with our free quote tool before finalizing any contracts.
The Next Steps To Going Solar
Now that you have a sense of solar panel costs, it’s time to reach out to an installer.
To streamline the process, utilize our free quote tool. Simply answer a few quick details about your property, and we’ll connect you with our trusted solar suppliers. They’ll give you up to 5 quotes for comparison.
Solar panel costs FAQs
Should you invest in solar panels in 2024 in the UK?
Absolutely. Contrary to common belief, solar panels function effectively even in cloudy weather, a frequent occurrence in the UK. On average, homeowners can anticipate saving approximately £537 annually on electricity bills with solar panels.
What are the primary drawbacks of solar energy?
Firstly, the initial cost poses a significant disadvantage, averaging around £7,860.
Secondly, solar panels cannot produce electricity at night, necessitating reliance on the grid after sunset—unless you’ve stored surplus electricity with a solar battery.
What is the cost of solar roof tiles?
On average, a 3.5 kW solar roof tile system is priced at £14,550, nearly double the cost of a similarly sized solar panel system. This higher expense is attributed to the necessity of retiling your roof during installation, which increases labor costs and installation time.
For a four-bedroom house requiring a 5 kW system, the average cost would be £20,250.
How do you find a trust worthy installer?
- Comparison Shopping: Don’t just consider prices; inquire about warranties as well.
- Warranty Coverage: Opt for installers offering robust warranties, ideally 20–30 years for products and at least a 10-year workmanship warranty.
- Third-Party Reviews: Check reviews on platforms like TrustPilot for unbiased feedback.
- Review Filtering: If the installer offers other services besides solar panel installation, filter reviews for relevance by searching for the keyword “solar.” This ensures you access feedback specific to solar installations.
Where do you want to install solar panels?