Whether you are passionate about the environment and want to invest in solar panels to reduce your carbon footprint, you want to save money on your energy bills, or even perhaps it’s a combination of the two, if there is one factor holding you back from going solar, it is most likely the initial cost.
Solar panels are not cheap. That is a fact.
That being said, they are still a good investment as you can significantly reduce your electricity bills by using solar panels to create and store your own energy, making you less reliant on the grid.
However, even with the promise of these ongoing savings, if you don’t think you can afford to purchase and install solar panels, then you may think that they are out of your reach.
Fortunately, there are schemes in place to help you get the solar panel system that you want for your property.
Can I get help purchasing solar panels for my home?
Currently, over 800,000 homes in the UK are now enjoying the benefits of solar panels in their home, with many having taken advantage of the Feed-in Tariff that began in 2010 when companies would actively pay for your solar panels for you.
Unfortunately, this scheme has now come to an end, but that doesn’t mean that there aren’t still incentives in place to encourage and help homeowners to go solar.
Smart export guarantee
This new initiative was launched in January 2020 and pays people for reusable electricity that they have generated and put into the grid.
The Smart Export Guarantee, SEG, pays people who produce electricity with the following renewable technologies:
- Solar panels
- Micro-combined heat and power
- Anaerobic digestion
If you do have solar panels installed in your home and would like to take advantage of this scheme, then you need to make sure that you are signed up to an SEG tariff. It is also a good idea to shop around to ensure that you are getting the best price for your electricity.
Solar panel funding scheme
With Solar Panel Funding, homeowners are able to install a new solar panel system, which they will own in full, which will be eligible for the grid trade incentive.
There are three options available within this scheme:
- Fully funded solar panels
- Solar panel funding options
- Solar panel purchase outright
Over one million people in the UK are already taking advantage of solar panels, so why don’t you become one of them?
Free solar panels for council tenants
If you are currently a council tenant in the UK, you may soon be entitled to free solar panels. Back in 2017, the government set up a scheme that promised to fit solar panels into the homes of those on a low income in order to help reduce tenants’ energy bills.
This scheme has already been successfully implemented in some areas of the country and is set to be rolled out nationwide as soon as possible.
Solar panel loans
If it is the initial cost of purchasing and installing solar panels that is preventing you from embracing this self-sufficient way of generating electricity, then a solar panel loan may be the answer. Although you may not be able to find a company to buy your solar panels outright, there are still many that are offering low-interest loan rates for those wanting to go solar.
This is a great option for those who do not think they can afford solar panels, as the money that you save on your electricity bills, coupled with the payments you can get from the grid for your excess reusable electricity, can go towards paying back your solar panel loan.