Looking at the energy mix over the years since 2010, it is truly clear that the UK has laid firm policies to reduce the use of fossil fuels. Incorporating solar energy into the energy mix is increasing exponentially. The generation capacity of renewable energy has outpaced fossil fuels in 2020. Solar energy handles such a rapid increase in renewable energy usage in the UK. This is good evidence for the commitment of the UK to become sustainable.
However, amidst the climate change issues, the world had to face the COVID-19 pandemic, which completely changed the way we do things. The pandemic caused turmoil in the energy markets throughout the world. The UK is also a victim of this world recession because of the pandemic. As a result, the cost of energy increased in all countries throughout the world. Shortage of supply and higher demand is the main reason for rising energy costs.
Amidst the rising energy costs, should you go for solar power? Is it cheap or expensive? Can you gain profit out of a solar PV installation on your rooftop? Is it hard for you to find out the answers to these questions in this tough time? Worry not! Many people want to go solar and be more sustainable. But they have lost clues to make sure that the investment is worth it.
This article gives you all the factors you should consider if you are thinking of going for solar power. When you consider installing a solar PV system on your roof, make sure it is workable. Here is a list of pros and cons for you to figure out whether your solar PV system is workable.
Pros of Having a Solar PV System on Your Roof
Reduce/Cut Electricity Bills
As explained earlier, energy bills are on the rise because of the repercussions of the COVID-19 pandemic. There is an energy crisis in all of Europe and in the UK. You can reduce the electricity bills or even cover your complete electricity requirement using solar power. Usually, solar panel manufacturers give at least a 25-year warranty period to solar panel performance. It is assumed that the lifetime of the solar panel can be as high as 40 years if they meet the standards. If you go for solar today, it means that you do not have to pay for electricity at least for the next 25 years.
When you install the solar panels on your roof, you do not need to do routine maintenance of the solar panels. The only thing that is advised to do is wash the solar panels once in six months just to get rid of the dirt. For that, you only need water and a mop.
Renewable Energy Source
The UK is on its course to realizing its goals of achieving sustainability. As explained at the beginning of the article, it is clear when you see the changes in the energy mix over the years. You will help the country realize those goals faster. Sustainability is important to make our planet habitable for future generations to come. Being sustainable simply helps you to create a better environment for your kids to live in.
You can expand the capacity of the solar PV system when you require it. You just must increase the number of solar panels and install a suitable inverter. Usually, the per capita energy consumption is increasing daily with the expansion of the economy. That means your energy requirement increases over the years. It is easy to scale up solar PV systems when you need them.
Reduce Carbon Footprint
This is essential to develop your social status. There are people who do not believe that there is a global warming issue in the world. There are others who really care about the environment. Using solar power to power your home will highlight you as someone who cares about the environment, we live in. Society recognizes them as people who lead to make the world a better place.
Availability of Financial Support
Both banks and solar PV installers offer loan facilities for homeowners, making it easy for them to get a system installed. The interest rates are also quite low. Earlier there was an interest-free loan scheme introduced by the government, but they stopped it in 2015.
Can Sell Power to the Grid
You can sell the solar power to the utility supplier at 5.24p per unit of electricity. If your system is above 30kWp, you might need a new net meter at your place. You can sell half of what you generate every day. This can be an extra income stream for you.
Cons of Having a Solar PV System
High Initial Cost
According to statistics, a family of three needs at least a 4KWp solar PV system to run their day-to-day activities. It requires around 12 to 13 solar panels. The average cost of a 4kWp system is around £6000.00. It is a considerable cost. This acts as a negative catalyst in promoting solar PV systems among households.
Solar Power Generation is Weather Dependent
The UK has seasonal weather changes. There are four seasons. As we all know, solar panels generate electricity using sunlight. But in the time like the winter, the amount of sunlight hitting the solar panels is minimal. In those times, the generation reduces compared to sunny days.
Roof Should be Eligible
The roof should be spacious enough to install solar panels. It requires at least 20 square meters of roof area to install solar panels for a 4kWp system. In addition, you can only use two sides of the roof at most. Sometimes your roof might not be large enough for the required capacity.
Long Term Investment (Long Payback Period)
Usually, the payback period is several years for a solar PV investment. It might change a bit based on how you finance it. However, you sign agreements with the utility company for at least 20 years ahead. Since the initial cost is high, it takes some time to cover the investment. Some people dislike long-term investments, which take years to cover the investment.
When you fix the solar PV system at your house, it is difficult to move it to another place when you need it. Unlike a generator, solar panels are a fixed generation method. If you need to move it to another location, a solar PV installer might have to get involved in the process.
Solar Power Storage is Expensive
Even though a lot of homeowners started generating solar power, it has not found answers to the rise in demand for electricity. Usually, peak demand hits close to 32GW of power in the summer at around 7.00 pm. To manage this demand, it is best to store the solar PV energy and use it at peak time. But it is very costly because of the high prices of batteries.
These are the pros and cons of solar PV systems. But all these factors might not affect you. Honestly, solar power is quite profitable if you have the resources you need to go ahead with the installation. Therefore, it is your responsibility to weigh your resources, the pros, and the cons of solar PV installations, and see if it’s workable for you.