The energy crisis in Ireland, much like the UK, doesn’t seem to be going away any time soon. In fact, in Ireland it is expected that electricity bills alone are set to rise to around €500 by November. When all increases are taken into account, households will be paying more than €1,300 extra for their electricity and more than €1,100 for their gas over a year. Due to the harsh and fast increases, it is expected that around 2.25 million people will face fuel poverty this winter.
Fuel poverty is calculated when a household is unable to afford to heat their home to an adequate temperature. The increasing cause of fuel poverty is the impending recession, general cost of living increases, coupled high fuel prices and poor energy efficiency.
Many households are now looking to reduce their energy consumption by turning on their heating and water on for fewer hours, taking shorter showers and attempting to spend less time in their homes. This has also encouraged many households to look at more eco efficient means of powering their homes. Through new boilers and the installation of solar panels.
Will solar panels save me money?
Solar panels have become more of a commodity in recent years than a luxury as they have been previously perceived. They’re environmentally friendly and can help you save money on your electricity bills every year. Many of our customers have achieved over 90% self consumption rates, reducing their reliance on the grid and avoiding expensive energy price hikes.
But, there are many factors to consider before making the decision to invest in solar panels, and it’s important that you understand them all before making any commitments. In this article, we’ll look at some of the most common questions about solar panels.
How can solar panels save me money?
Once installed, solar panels take energy from the sun and convert it into electricity to power your home and business. While doing so, your property does not take its power from the grid which is what your energy provider charges you for. When solar panels are working to their full potential they can save you over 90% on your electricity bills and reliance on the grid.
While it can cost anywhere between €3,000 and €10,000 to install solar panels on your home and over €20,000 on some businesses, the rewards you reap in avoiding the ever-increasing energy costs outweigh the initial expense in no time. In fact, in real-life comparisons some businesses have been down to meet a 2-year payback period.
Are solar panels worth it?
Solar panels have come down in price significantly over the past decade, but they are still a high-cost purchase item depending on the amount of power that you need. However, much like central heating which is an essential for homes and businesses across Ireland, the costs are likely to be offset by your savings each year.
Are solar panels expensive to maintain?
Your solar array will last a long time before needing replacement parts or repairs; most experts agree that 20 years should be more than enough time before your system needs any major overhauls done on it. This means that most homeowners should feel confident about investing their money into this type of technology.
Are there other ways to make your home more energy efficient?
There are plenty of other ways to make your home more energy efficient. From fitting a smart thermostat, to insulating the loft and fitting cavity wall insulation, it’s well worth considering these measures. You can also save on your heating bills by installing smart meters which can help you monitor how much electricity you’re using in real time – so it’s easier to see if there’s room for improvement.
Conclusion
With the ever-increasing pressures on the cost of living and the energy crisis, solar panels have become an essential in the fight against rising costs. While there will always be an initial upfront cost for purchase and installation, the savings will more than offset your electricity bills over time. Our real-life consumption rates prove that solar panels can definitely save you money on your energy bills, with savings of up to 99% on electricity taken from the grid.
