Solar Guide, the free online resource for homeowners and engineers regarding all solar-related issues, has found the average price of a domestic solar PV installation to be less than £12,000.
Figures, taken from the second half of 2010, show the average cost of a completed solar installation was £11,657. The research was carried out by Solar Guide to see how quickly customers can expect to see a return on their investment and to investigate the growth of the UK’s solar market.
From June – December 2010 experts at Solar Guide studied 2030 customers using a total of 286 different companies, all of which will be eligible for the Feed-In Tariff (FIT).
The Government’s Feed-In Tariff scheme allows homeowners, businesses and communities to receive payments for generating their own renewable electricity. As well as lowering their energy bills this scheme has the added advantage that applicants can receive extra cash by exporting any unused electricity to the power grid.
Since the launch of the Feed-In Tariff in April 2010, more than 21,000 registered installations have been carried out across the UK.
The size of a solar panel installation and the amount of electricity it produces determines how big a payment someone can receive. And Solar Guide’s very own Feed-In Tariff Calculator allows potential customers to see exactly how they could benefit.
Anyone wishing to install solar PV panels on their buildings can calculate what size a solar panel system they need, how much it will cost and how much money they could be paid back from the Feed-In Tariff.
According to Solar Guide, consumers adopting a solar PV installation in the beginning of 2011 can expect to pay between £11,000 and £14,000 for a 3kWp system which would pay for itself in eight to nine years with a return of 5 to 6% AER over 25 years.
David Holmes, Founder of Solar Guide said: “The statistics by Solar Guide shows a positive response to the Government’s Feed-In Tariff. Our customers are seeing the benefits of solar electricity for themselves and the profits to be gained from this growing market.
“I would encourage anyone considering a solar installation to visit the Solar Guide website. With over 500 nationwide solar installers, all MCS accredited, we can provide you with a complete service starting with up to three free quotes. Our unique feedback service also enables customers to leave honest assessments and up to date reviews of installers, to give the fullest peace of mind.”
For more information on the benefits of solar technology, quotes from trusted solar installers and to try out the Solar Guide Calculator, visit www.solarguide.co.uk