How Much Will I Save With Solar Panels In Ireland?
Solar panels are an excellent investment for homeowners in Ireland. You should save/earn more from your solar panels vs leaving the money in the bank!
The Initial Investment
The initial outlay when installing solar panels is costly, however there are currently various measures available which can significantly reduce your costs.
The Sustainable Energy Authority of Ireland (SEAI) also offers a solar electricity grant of up to €2,100 to homeowners who install solar PV panels on their properties which can help reduce the initial capital outlay. The Irish government has also recently reduced the VAT rate to 0% for homeowners installing new solar PV systems. This can further reduce your overall installation cost by over €1,000.
How Much Can You Save?
The average person saves approximately 50% on their monthly electricity bills by adding solar PV panels to their property.
The payback period is usually after 5 to 7 years of saving money on your monthly power bills before you break even on the upfront investment. Of course, if you plan to sell your home within the next five years you may break even sooner as your solar panels should also increase the sales price of your home.
With that said, solar panels won't normally eliminate your electricity bills completely, however they will certainly offer you significant reductions in your monthly energy costs.
Compare Solar Quotes
Would you like to compare quotes for a new solar PV system? Simply click the 'Get Solar Quotes' button below and fill out our quick form (takes less than 1-min).