Wait or worth it: How much do solar panels cost in the UK?
Solar panels are a great way to live greener and save money on your electricity bills, which is why they’re an increasingly popular choice here in the UK. In fact, according to the latest government data, over 1.39 million homes have already made the switch to solar.
Solar panels cost on average just over £8,000 including a battery for a standard three-bed home. While the cost of installing solar panels can seem a bit daunting, understanding what’s involved and the difference it can make really helps. So, in this article we’re going to dig a little deeper and explore:
The average price of solar panels for different sized homes.
The benefits of installing solar panels – from generating your own electricity to earning money for any surplus energy.
What to expect when booking your installation with Hive.
Solar panel installation costs explained
There are three key factors that affect the price of setting up your solar: the type of panel, how many you need and the installation cost.
Monocrystalline solar panels cost more than others because they use the latest technology and are more efficient. Highly efficient panels are more expensive because they can convert more sunlight into electricity per square metre.
You’ll need roughly three panels per bedroom unless you’re using highly efficient panels. The number of panels you need will then have an impact on your installation costs.
The cost of the installation itself depends on your installer, as different installers will charge different prices for parts and labour.
For a three-bedroom house you’ll need between eight and thirteen solar panels, with an output of 400 watts per panel. On average this will cost £5,245. This includes the initial survey, scaffolding and the installation itself. We recommend adding a battery to your installation – and if you choose a standard 5.32kW solar battery, your total installation will come to around £8,485.¹ Although it increases the overall cost, a battery means you can store any excess energy you don’t need during the day and either use it later or or sell it back to the grid for even lower bills.
This table gives you an idea of solar energy installation costs based on house size and the system size you’re likely to need.
²
How do solar panels save money?
Reduced energy bills
Your solar panels generate free, greener energy for your home. So you no longer have to pay to get all your energy from the grid.
Sell back to the grid with the Smart Export Guarantee (SEG)
Earn money by selling your excess energy back to the grid. There are lots of SEG tariffs to choose from. Our friends at British Gas offer a competitive 15.1p per kWh.
Potential increase in your home’s value
Research from the non-profit trading association Solar Energy UK, says solar panels can increase your property’s value by 0.9-2%.
Longer-term savings
While there’s no getting around installation costs, solar panels last a long time and can save you money in the long run. Solar panels typically have a lifespan of at least 25 years.
Save with the Hive Solar Saver
Get up to 25% off electricity usage with our exclusive energy offer. Pair this discount with a SEG tariff and you could save up to 92% on your electricity bills.³
Turn sunshine into savings with Hive
Installing solar panels and a battery could help reduce your carbon footprint and shrink your bills. At Hive, we can help you get set up with independent installers. Plus, it’s super easy to manage and track your solar energy with the Hive app.
Keen to take the next step in your solar journey? All we need is some details about your home. We’ll arrange a survey of your house and give you a free-fixed price quote.
Start saving with Hive solar
1. For both solar & battery, the price is £8,485 with Effective Home. This price is based on purchasing a 10 panel system, 400W premium panels and a 5.32kWh solar battery. Price includes full system and install.
2. The costs presented are estimates. Actual price could vary and will be confirmed at point of quote. We act as an introducer between you and Effective Energy Group Ltd (company number 09805175) or Forster Roofing Services Ltd (company number SC123604). The terms on which any installations are carried out are as agreed between you and Effective Energy Group or Forster Roofing Services and, other than for any Hive equipment you receive, we are not responsible or liable for the end products or services that are provided.
3. Based on a medium demand (2,700 kWh) property in London, with south-facing 10 panel 4kW arrays and a battery providing 35% of the home’s electricity needs. Excess energy is sold back to the grid at 15.1p per kWh using the British Gas ‘Export & Earn Plus’ SEG tariff. Saving includes ‘Hive Solar Saver’ discount of 25% on electricity unit rate in the first year and savings will vary after that. We will give at least one months’ advance notice of the offer ending on our website. Typical bill calculated using national average Jan- March 25 price cap rates. Actual savings will depend on location, installation, aspect and electricity use.
