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Amortize the installation of solar panels

solar panel installation

You may think that the installation of solar panels is an expensive investment, but you will be surprised to see that the period to amortize the installation is solved with a simple formula and that it is a winning investment: in a while you will enjoy totally clean energy!

Have you considered installing solar panels for self-consumption? One of the most effective ways to reduce costs on the electricity bill is to resort to solar energy, a feasible, efficient and profitable reality in any region of Spain.

What types of solar panels are there?

Currently, there are several types of solar panels on the market that meet different objectives. These are the ones you can find:

Photovoltaic Solar Panels:

They are what convert solar energy into electricity. They are made up of a series of cells contained within that are responsible for transforming photons of light into energy. The greater the intensity of the sun, the more energy is generated.

Thermal Solar Plates:

The purpose of this type of solar panels is to transform the energy produced by the sun into thermal energy. This will be used to cover the needs of the home for hot water.

Hybrid Solar Panels:

It combines both technologies and two advantages can be obtained with a single installation. They allow to obtain thermal energy and electricity.

How much does the installation of solar panels cost?

Currently the price of a solar panel installation fluctuates between 600 and 800 euros per square meter of panel. As the surface to be installed increases, the price per square meter will decrease. For example, a single-family home will need an approximate installation that will range between € 1,000 and € 1,200. Then other elements can be installed such as a solar tracker that makes the plates orient themselves according to the path of the sun.

If we consider an installation of solar panels as if it were a financial product, it can be said that with the current price, it is an investment with a high internal rate of return. I mean, it’s a great product, reasonably priced and pays for itself in no time.

Although the price of solar photovoltaic panels is a significant expense at first, from the moment you have them installed in your home, you start saving on electricity and gas. This photovoltaic self-consumption allows not having to pay high electricity bills, which also continue to become more and more expensive. In this way, this expense is eliminated while we are consuming our own energy. On the other hand, having solar panels at home revalues ​​the property.

Install solar panels with SP Solar and join the Energy Revolution!

Install solar panels with SP Solar and join the Energy Revolution!

When does the installation of solar panels pay off?

To have concrete data to know if it is profitable, you have to look at the payback period. It is a simple calculation that allows us to know the amount of time necessary to reach the equilibrium point. That is, that moment in which the investment made is equal to the amount saved. To make this calculation we simply need to determine the final cost of the installation and the benefits or financial savings that we achieve per year thanks to solar panels. Two variables must be taken into account:

  • The gross price of the installation of solar panels. This will depend on the type of panels we choose and the surface that is needed.
  • Amount of subsidies. There are tax breaks in the IBI and subsidies available to citizens that can considerably reduce costs. This will shorten the payback time a lot. That is why it is important to be informed of all the aid offered by each autonomous community to encourage the use of renewable energies.

Since 2010, the cost of photovoltaic technology has been falling by up to 70% while gas and electricity bills increase at a rate of 3.5% each year. It is more than enough to consider making a leap to electricity self-consumption that the installation of solar panels provides us. Contact our energy advisers and they will help you manage the step towards clean energy!

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