Are Solar Panels Worth It in Ireland?
Solar panels are a cost-effective solution for households that want to reduce their electricity bills. They offer a long lifespan and require minimal maintenance. Moreover, they help in increasing the energy efficiency of the house. This way, homeowners can lower their reliance on the grid and become independent from energy providers.
How Much Would I Save With Solar Panels?
The amount of money are solar panels worth it in ireland that you can save with a solar system will depend on your individual consumption and the size of the system. However, the average household can expect to cut a quarter of their electricity costs by installing solar panels (RTE Brainstorm).
In Ireland, it’s possible to generate up to a fifth of all domestic demand using solar power thanks to the country’s good daylight levels and relatively high solar energy production capacity. Additionally, the cost of a residential PV system is significantly lower than it was five years ago.
Moreover, the government offers a number of incentives that make solar energy more affordable for Irish homeowners. For example, homeowners can benefit from the SEAI grant which pays them for any surplus electricity that they export to the national grid.
Ireland’s Solar Path: Understanding the Cost of Solar Panels
It’s clear that the answer to the question “are solar panels worth it in ireland?” is yes. In fact, in year one you can expect to make an annual return on investment of 8-15% (assuming 3% inflation). This makes solar a better option than saving money in a bank account or even investing in the stock market.