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Are you thinking of installing solar panels?  Find out here if it pays off - Executive Summary

Are you thinking of installing solar panels? Find out here if it pays off – Executive Summary

Higher energy prices and lower costs for solar panels are leading many consumers to consider installing one of these systems. After all, what exactly are they, how much do they cost and above all, are they worth it?

What are solar panels and how do they work?

In short, solar panels convert sunlight into electricity, which can then be used in a variety of everyday activities.

The energy release These panels have several purposes: they can be consumed once created, stored for later in batteries, or finally sold to the network for the consumption of others. The amount of electricity generated mainly depends on the intensity of the light, which varies with the day and the seasons.

What types of panels are there?

There are two main types of solar panels: thermal panels and photovoltaic panels.

While the former is intended for specific uses, such as water heating, the latter is intended for more intense energy production. This last option is usually used for self-consumption or as a source of income for those who become producers and sell energy to the grid.

If self-consumption photovoltaic solar panels are considered self-consumption production units (UPAC) or, in other words, equipment that provides for home installation. In these cases, if there is exceptional production, the surplus can be sold to the Public Service Electricity Grid (RESP).

However, if your only goal is to sell electricity to the grid, the solar panels are already making a small unit production (UPP) configuration. If you are considering going this route, be aware that there are rules to follow.

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The panels must have a power of 250 kW or less and all power produced must include RESP. If you want to consume your own produced energy as well as sell surplus production, you must register in the self-consumption scheme.

In short, while UPACs are the most appropriate option to supply the home with daily needs, establishing themselves as a UPP is the path to be followed for an additional source of income.

What are the advantages and disadvantages?

The most obvious advantage of solar panels is the reduction in the electricity bill which can exceed 30% depending on several factors, because it will generate electricity for free during the day.

On the other hand, they are An eco-friendly optionCapable of generating clean and renewable electricity. There’s another feature that often gets overlooked: Solar panels increase your home’s market value, as they’re an increasingly sought-after feature.

However, there are drawbacks to consider, chief among which is the initial investment required. Buying and installing a set of solar panels can be a big expense, but it pays off in a few years, and for that There are specific financing solutions.

Another obvious drawback is that solar panels only produce electricity during the day, and only reach their full capacity in sunny, open conditions. As a result, in the winter months where energy consumption tends to be higher, production will be at minimum values.

There is one last factor, depending on each case, that may or may not be a defect: the orientation of the roof. Whether you are in a house or a building, you will have to make sure that the panels are not left in the shade.

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All of these factors are critical to evaluating the costs and benefits of installing solar panels.

How much do solar panels cost and how much do you save?

The first factor in determining the cost-effectiveness of investing in solar panels is your average monthly consumption. This variable will determine the power and cost of the equipment, as well as the reduction in Invoice at the end of the month.

In addition, it is necessary to assess the area to be covered, the direction and inclination of the plate, the temperature and even its location. All this will affect the production capacity of the solar panel. Additionally, you should also consider the installation cost, which may or may not be included in the package.

Operation case:

For example, imagine that you live in a T3 house with an average electricity consumption of €100 per month. In this case, the photovoltaic system of 2500 euros will bring approximate savings of 35 euros per month, which is equivalent to 6 years of payback.

As a rule, photovoltaic panels have a lifespan of 25 years, and their maintenance is minimal. This means that, in this scenario, you have 19 years of savings, or €7,980, given the no-change option.

To get the best price, it is important to compare suppliers to see which one is the most advantageous. The EDPAnd the GoldEnergy And the galp They are some of the major dealers in this sector and they all have different equipment offerings.

To counter the initial investment, you have several options available. The first is Financing the installation of solar panels with a loan. Financial institutions allow flexible maximum terms for specialized credit for renewable energies. This type of loan has other advantages for consumers, such as low interest rates and financing up to 100% of the invoice value.

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There is another option where you can make up the majority of the investment. Through the Environment Fund, when you purchase renewable energy production equipment, you can apply for a refund of up to 85% of the value of solar panels. This is an incentive from the state to make homes more sustainable and applications are open on the bottom page.

Is it worth installing solar panels?

Every case is different. Energy consumption, location, and home solar exposure, are several factors that will determine the production and cost of the system.

It is a fact that solar panels are a very expensive device, especially if we compare it to most of our daily expenses. However, given that they have about 25 years of useful life, which represents significant savings and increasingly cheaper, it is possible to conclude that it pays off in the long run.