How much money can you save with solar panels?

How much money can you save with solar?

The short answer? A lot!

First let’s talk about saving the planet! We all want to make positive changes in order to reduce our carbon footprint. Well, homeowners and their cars account for a third of the environmental damage caused on a yearly basis.

There are 1.7 million homes in Ireland. Each of these homes could produce up to 80% of their own clean, green electricity, if their homes were equipped with solar panels and a storage battery.

Now let’s talk about saving real money!

By installing a solar photovoltaic (PV) system in your home, you start generating you own clean electricity immediately, thereby saving on the amount you would normally pay your electricity provider.

For every unit of electricity that you generate on your roof, it’s a unit of electricity that you do not pay your supplier for.

A typical detached home in Ireland can generate between 60-80% of the electricity it needs by going solar. If your monthly electricity bill is €100, that’s an immediate saving of €50-70 per month – or about €700 per year.

But the savings don’t stop there….

If you install a solar system with a battery, then you can save even more because during the winter, we fill up your battery at night using a night tariff, so the electricity you use during the winter is more cost effective. We calculate that saves you another €100 a year.

In 2021, EU legislation is coming to Ireland that will require your electricity supplier to pay you a rebate for any excess you spill to the Irish grid. Depending on the size of your system, that could result in an additional savings of €150 a year.

And finally, you are also saving about €50/year on Carbon Tax – which is expected to quadruple over the next decade.

After the SEAI rebate of €2400, a 5kWp solar system with a battery will cost approximately €10k.  And if you save €1000/year, that’s not a bad 10% tax-free return on your investment.

Check out how much you could save by going solar. Book a consultation to receive a free, no obligation quote.

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