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Are Solar Panels Worth it in Ireland in 2024?

Are Solar Panels Worth it in Ireland in 2024?

Even though we have had a huge shift towards renewable energy, there are still a lot of people under the illusion that solar panels are not worth it in Ireland. Let’s bust some common misconceptions.

If there is rarely any sun in Ireland, how can solar panels work?

This is a common misconception about Solar PV panels – many people think that you need direct sunlight to produce energy and as we all know, sun is extremely rare in Ireland.

The truth is that the term solar panels are used so widely within the renewable energy industry; it is easy to get confused with all the different types and their functions.

Solar PV (photovoltaic) produces its energy from the photons and radiation levels in the sun, not the direct sun rays. What this means is, it will produce energy on overcast and even rainy days.

Before you say it, yes; you will obviously produce more energy in the summer months than the winter months, but this is due to longer daylight hours and higher radiation levels not because there is no sun.

Think about it the sun is out 365 days of the year because, if it wasn’t, we would be in complete darkness everyday. So, even on those dull and drizzly days when all you want to do is curl in a ball and watch Netflix for the day. You can rest easy because your solar panels will continue to produce energy while you binge your favourite shows on the energy that you have produced for free.

Think about it the sun is out 365 days of the year because, if it wasn’t, we would be in complete darkness everyday. So, even on those dull and drizzly days when all you want to do is curl in a ball and watch Netflix for the day. You can rest easy because your solar panels will continue to produce energy while you binge your favourite shows on the energy that you have produced for free.

Are Solar Panels Worth it in Ireland in 2024?

So, what will you save with your new solar panels?

On average people see up to 50% savings on their electricity bill. The SEAI are also currently offering a grant of up to €2100 for solar panel installs in Ireland.

Installing solar panels on your roof or a field doesn’t mean that you’re going to be off the grid completely. Most solar systems can’t consistently generate enough electricity to be a home’s only power source, which is why the vast majority of solar homeowners maintain a connection with their utility company.

Solar PV panels only produce energy in daylight hours so you wouldn’t be producing anything on winter evenings or at night. If you are asking if solar panels can provide electricity from moonlight, then that’s another story. Moonlight is, essentially, sunlight reflected off the moon’s surface. While there have been experimental technologies exploring the conversion of moonlight into electricity, they face several challenges. The low intensity of moonlight requires highly sensitive and efficient photovoltaic cells, and the overall energy potential is limited. Moonlight is significantly less intense than sunlight, and traditional solar panels are designed to capture sunlight, not the fainter light from the moon. we are using Jinko solar panels and these are designed for sun light only. If you want to know more about what is the cost and what are the best solar PV’s in Ireland then check this article.

– if you were to increase your output from the solar panels to say 95% – it is not advisable because firstly there would be a larger capital spend with a longer payback period and a lot of the energy that you are producing would just go back to the grid.

Speaking of the grid, the microgeneration scheme is also a saving factor to consider, any energy that you produce and send back to the grid will be paid for by your utility supplier, each supplier has their rates and terms, however, the general rate paid across the market is 15-20c per unit.

One other major development for the solar industry is that the rate was reduced from 13.5% to 0% for all homeowners, this reduces the overall installation price by an average of €1,000.

Having solar panels installed can be as efficient as you make it, a change in behaviour about how you use your energy can increase the efficiency of your solar panels. Be smart about how you use your electricity throughout the day – i.e. stagger high-consumption household items like dishwashers, washing machines and showers this will ensure that you are using the energy you are producing and not pulling from the grid unnecessarily.

CALCULATING YOUR SAVINGS

On average, people experience up to a 50% reduction in their electricity bills with solar panels. Additionally, the SEAI offers a grant of up to €2100 for solar panel installations.

While solar panels won’t make you completely off-grid, they contribute significantly to reducing electricity costs. Most solar systems maintain a connection with the utility company, and any excess energy sent back to the grid can earn you compensation.

The recent reduction of the rate from 13.5% to 0% for homeowners further reduces the overall installation price by an average of €1,000.

MAXIMISING EFFICIENCY AND RETURN ON INVESTMENT (ROI)

Efficiency depends on behaviour. Being mindful of energy usage, such as staggering high-consumption items, increases the efficiency of your solar panels.

Here’s a simple ROI calculation for a 3.2kWp solar PV system in Ireland:

  • Annual electricity usage: 5,000 kWh
  • Unit rate: €0.39/kWh
  • Annual electricity cost: €1,950

Assuming the solar PV system generates 50% of the annual electricity usage and 40% of this is consumed, the savings on electricity bills would be €780. In addition, savings on oil bills for water heating could be €80.

Therefore, the total annual savings could reach €860, with an estimated ROI of 7.4 years, making solar panels a cost-effective and sustainable investment.

Read our dedicated page on solar panels in Ireland for more insights.

As the leader in solar panels in Ireland, NRG Panel can address all your needs. Find out more today with a no-obligation consultation.

 

You can also read this article – Everything you need to know about solar panels in Ireland 

The article delves into the financial aspects, highlighting potential savings of up to 50% on electricity bills and the current SEAI grant of €2100 for installations in 2024. Emphasising the role of solar panels in decreasing reliance on the grid, the microgeneration scheme is introduced, offering compensation for surplus energy sent back to the grid.

The guide concludes with a practical ROI example, projecting a 7.4-year payback period and establishing NRG Panel as a trusted solar panel installer, providing sustainable energy solutions with heat pumps and solar panels in Ireland.

As the Leader for Solar Panels in Ireland, NRG Panel can help discuss all of your needs whilst you are comfortable in knowing we are the best in the industry.

FIND OUT MORE TODAY WITH A NO OBLIGATION CONSULTATION

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