With the rising costs of electricity, more and more homeowners are looking for alternatives to power their homes. Over the past decade, solar energy has become an increasingly attractive option — providing a renewable source of energy that not only helps protect the environment but also reduces monthly electric bills. If you’ve been considering going solar in 2024, this is definitely the year to do it!
Solar panels have never been more affordable and efficient than they are today — making them one of the best investments you can make for both your home and financial future. In this blog post, we’ll discuss why now is such a great time to take advantage of solar technology, explaining all the benefits that come with installing solar panels on your property.
For UK homeowners there is currently 0% VAT
Homeowners in Great Britain now have the perfect opportunity to take action on improving their energy efficiency and accessing renewable sources of power. As from 1 April 2022, there will be no Value Added Tax (VAT) when installing solar or other domestic installations – saving you up to 20%! This welcome announcement is set for a five-year period but could potentially continue beyond that if additional legislation comes into effect.
Save a further £1000 from the Greener Home Reward Scheme
Barclays is offering its residential mortgage customers in the UK up to a total of £2000 to make energy-efficient improvements to their properties. As part of the Greener Home Reward Scheme, solar panels, solar water heating or solar battery storage, the reward is up to £1000. That’s another £1000 you could save on solar panel installation!
The cost of solar panels has been dropping for years
Installing solar panels is becoming more and more attractive as the cost drops year after year. Since 2009, solar panel costs have dropped by an incredible 83% in the last decade, making solar energy one of the most affordable renewable energy sources on the market.
As solar panel technology continues to improve, researchers predict that solar prices may drop even further in the years to come; this presents an opportunity for both businesses and individuals to transition to green energy sources with minimum initial costs and financial commitment. Solar panels may just be the future of sustainable power resources.
Installing solar panels can increase your home’s value
Installing solar panels is a great step for anyone looking to increase the value of their home. Not only does solar energy provide an eco-friendly and sustainable way to produce electricity, but solar panel installations also directly benefit homeowners significantly in terms of costs.
Additionally, solar panels may actually add to a home’s value, as they are seen as a long-term investment that can increase the price of a property if it is ever sold. In fact, studies have shown that solar systems can add up to 14% of the total property value for UK homes. With solar systems becoming more popular and affordable than ever before, now is the perfect time to consider making this investment into your home.
You’ll save money on your energy bills by using solar power
Using solar power is one of the most effective and efficient ways to reduce your energy bills. Solar panels are the most common solar power option, as they can absorb a significant amount of solar radiation during peak solar hours and transfer it into usable electricity. This energy conversion process requires no fuel, making solar power a sustainable energy source that helps you save money in the long run.
According to the Energy Saving Trust, based on energy price cap rates from October 2022, the typical UK household with a 4.2 kilowatt-peak system can save between £210 and £514 per year on their energy bills.
Additionally, solar panels require minimal maintenance once installed and their high durability ensures that you’ll be able to reap their financial benefits for many years to come. For those looking for ways to reduce their energy bills without compromising lifestyle or comfort, solar power is an ideal solution.
If you would like to find more about our solar panel installations for homes in Cambridgeshire then get in touch with us here.