After collecting data from governmental sources and solar industry experts, UK company, SolarLinker, has published a new infographic that outlines average payback periods and returns for the country's PV industry.
The findings focus exclusively on residential solar, and the company hopes this information will allow homeowners to quickly gauge whether installing PV panels is a worthwhile investment.
Entitled UK Solar Panel Costs, Payback Periods, & Earnings , the infographic relies on data pulled from the Energy Saving Trust and the Office for National Statistics. In addition, the report makes several key assumptions about installation size, roof pitch, orientation and the energy rating of users homes.
According to the companys founder, Usama Arjumand, The country's solar industry is booming, but there is lack of clarity on the economics of solar PV for consumers in the domestic market. He adds, "We wanted to provide homeowners with realistic data so they can easily compare competing quotes."
The infographic includes 5 color-coded charts that highlight what users in each region can expect from their solar investment. The graphic opens with average savings in the first year before moving onto payback periods, earnings, profits, and ROIs.
Arjumand stresses that although these numbers are accurate, they represent regional averages. Some installations will yield higher returns others will generate lower ROIs. However, when requesting quotes from potential installers, homeowners should focus on proposals that approach these benchmarks.
At least for now.
Arjumand acknowledges that the infographic will need to be updated frequently to reflect the UKs changing solar landscape. PV installation costs keep falling every year. More critically, however, the country's regressive feed-in tariff is adjusted downward every quarter. All data from the current infographic apply to July – September of 2015. The next version is scheduled for October of this year.
According to Arjumand, "Going solar is becoming cheaper, but payouts from the feed-in tariff will only get smaller." He warns that anyone thinking about installing panels should do it sooner than later, in order to enjoy the highest possible returns from their investment.
SolarLinker is a UK-based solar comparison site committed to helping prospective customers understand the benefits of solar power and save them on the cost of installing panels. Its stated mission is to take the hassle out of finding reputable solar panel installers and providing transparent information so homeowners and businesses can make better-informed decisions about their solar power investments.
http://solarlinker.co.uk/blog/uk-solar-panels-cost-earnings-are-they-worth-it-july-2015-i146
