In an age where renewable energy is not just a choice but a necessity, the idea of harnessing the sun’s abundant energy for free is more appealing than ever. Imagine reducing your electricity bills to almost nothing and contributing to a greener planet, all without a significant investment.
In this guide, we explore the options available for obtaining solar panels for nearly free, helping you turn your home into a beacon of sustainable living. Whether you’re a homeowner, a community member, or just someone curious about solar energy, the journey to a brighter, cleaner future starts here.
Can I get free solar panels?
While you may have witnessed many outlets advertising ‘free solar’ there currently isn’t such a thing in Northern Ireland. However, there are ways in which your solar panels can offset your expenses so much that they become ‘free’ overtime.
Let us explain.
Based on a real life example of the Hunter three-bedroom household in Northern Ireland. The Hunter household completed their installation of a 5.2kWh solar panel system and 7kWh battery storage system in September 2022. The total cost of the system and installation was a total of £12,650. This system was a Glass Glass solar panel system, including 3.68 inverter, 7.7kwh battery storage and 7kw zappi EV charger. The panels come with a 30 year warranty.
The Hunter’s average annual energy consumption, prior to the system installation was £2,008. But, in the first full year of the solar system being in operation, this total annual energy bill dropped to just £160.84.
Therefore in the first year, the Hunter household saved £1,847.36 on their energy bill which is 14% of their solar system installation cost.
Continuing at this run rate, the solar system will have paid for itself within 6 years and 8 months, and from year 7 the Hunter household will be over £1,800* better off each and every year thereafter.
*subject to supplier price changes.
Compounding effect
In short, if these panels were installed in January 2024, by September 2030 they would be paid off. For a homeowner in their 30’s they could expect to see lifetime savings of over £54,000*
*saving £1,800 each year for 30 years – based on case study results.
Solar panel financing options
Many banks and building societies are offering loans between 5%-10% APR, taking 7.5% APR as the medium, and a borrowing of £13,000 to cover the installation costs of solar. Homeowners can expect to pay roughly £200 a month on their loan agreement for 7 years.
- Each year this loan costs £2,340.
- Each year a typical home could save £1,847.
- Suggesting an increase in monthly expenses of just £41 for 7 years.
From the 7 year point the solar system is completely paid for and the homeowners will be making savings of over £1,800 each year.
Please note that Solar Power NI is not a financial advisor. The figures and estimates provided by Solar Power NI regarding solar panel costs, savings, and financial benefits are indicative and should be considered as general guidance only. For personalised financial advice, it’s recommended to consult with a qualified financial advisor or professional.
What if I move home?
Moving home with solar panels isn’t an issue. The solar panels belong to the homeowner, so unless you opt to leave them behind, they can be moved to a new property. It is important to note that the size of the new property might require tweaks to the solar power system, but don’t be put off buying today, even if you foresee moving in the future.
Solar support in Northern Ireland
Despite Northern Ireland’s less sunny climate, modern solar panels effectively generate power even on cloudy days, making them a viable option. Solar panels offer significant environmental benefits by reducing carbon emissions and contributing to climate change efforts. They can also reduce or eliminate electricity bills, with the potential to sell surplus energy back to the grid.
However, there are no large-scale government grants for solar panels in Northern Ireland, but initiatives like the Northern Ireland Renewables Obligation and Barclays Greener Home Reward provide financial incentives. The installation process requires careful selection of reputable installers, and the system’s design is based on a site evaluation and energy audit.
