Note: This article contains out-of-date information about the Feed-in Tariff scheme (FITs) which closed to new applications on 31st March 2019. Find out more about the closure on the Energy Saving Trust’s website.
Domestic solar PV panels are currently getting more and more popular. They’re a great way to create your own energy and earn money. But if you’re considering installing your own, it’s important to make sure you get the most efficient solar panels for your home.
This is more complicated than just sourcing solar panels with the highest efficiency rate and buying them. Read on to find out 4 steps to picking the most efficient solar panels.
1. Work out your budget
One of the most important things you need to do when starting your search for efficient solar panels is work out your budget. It’s not as simple as deciding to fork out whatever you need to for the best ones – solar panels with the highest efficiency (typically 40 – 50%) will be well out of budget. Instead, come up with a rough figure of how much you want to spend and then shop around to see what you can get for it.
2. Decide when you want to start making a profit
Another important thing you need to consider is when you want to start making a profit on your solar panels.
If you plan to move out of your home at some point in the future or want to make money from your panels as quickly as possible, maxing out your budget probably isn’t the best option. Generally, the more you spend the more efficient your panels will be. But spending more up front will mean it takes you longer to feel the financial benefit of the Feed-in Tariff and energy bill savings.
If long-term saving and profit is your goal, then buy the most efficient solar panels you can afford. But if your needs are more short-term, consider spending a little less.
3. Bear space in mind
It’s also important to bear space in mind when shopping for solar panels. Work out how much room you have for panels in square metres before you start. If you have limited space then it’s worth looking at more efficient and expensive solar panels to maximise your output. But if you have a pretty significant amount of room then it might be more cost-effective to install several less-efficient panels to generate the amount of energy you need.
4. Consider the time of year
The time of year might also affect you in your search for the most efficient solar panels for your home. If your goal is long-term benefit then when you install your panels is probably irrelevant. But if you want to maximise your short-term solar panel efficiency, then try to install your panels in early spring. There are longer daylight hours in the spring and summer, so your panels will produce more energy.
Following these 4 steps should help you to find the most efficient solar panels for your home according to your budget and time frame.
Solar panel installers are great people to talk to to get prices and further advice. Complete our online form and we’ll connect you with up to 4 local MSC-certified professionals.