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Solar Panels Costs – Finance and Funding for Solar Panels

Whilst solar technologies are relatively inexpensive compared to the likely projected returns of a solar system over its lifetime, solar panels costs make installing solar panels on your home a significant investment. For many people this is a fantastic opportunity to invest in the future of your home for you and your family. In fact, even with a loan or a mortgage, solar panels can be a financially rewarding investment. The initial solar panels costs required are more than repaid by the energy bill savings and Feed-in Tariff payments. The important thing to ask, if you are interested in taking out a bank loan or mortgage to pay the initial solar panels costs, is whether your Feed-in Tariff payments will exceed your loan repayments.

Homeowners looking for financing to help them fund solar panels costs generally look at the following methods:

  • Long-term savings. If you have substantial savings then these might be a viable way to meet solar panels costs and fund your investment.
  • Re-mortgage on your property at a low interest rate.
  • Loan or credit
  • Low or zero interest loan schemes

Why is solar PV a good investment?

Solar PV panels are an excellent investment for many homeowners, not only because they help significantly reduce your energy bill, but also because of money you can make via the Government’s Feed-in Tariffs. The long term benefits provided by the Feed-in Tariffs will easily outstrip initial solar panels costs. In fact, even with a loan, solar panels costs can be low enough to make solar panels a viable and rewarding financial investment for your home. However, it is important to be aware of how much you expect to make over the 25 year Feed-in Tariff payment period, and compare this against any repayments you will be required to make.

If you are interested in solar panels for your home, you can estimate how much you are likely to receive through the Feed-in Tariffs by using our handy solar calculator.

For more information or a free quote for solar energy for your home, please do not hesitate to contact us.
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