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How long does it take to amortize the installation of solar panels at home?

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Faced with the suffocating quotas of the electric companies, It is becoming more and more profitable to bet on photovoltaic panels to generate energy in our homes. Everything seems to come together to opt for this clean source: on the one hand, the unstoppable rise of the receipt; on the other hand, the lower cost of solar installations and, also, the facilities that the administrations are giving in the form of aid, subsidies and tax credits.

However, the key question that many consumers ask is: to what extent is it profitable to install solar panels on a home?

All the companies and experts consulted agree that the savings involved in choosing this route is undeniable.

First of all, we must take into account what the solar panels and other installations that we are going to place at home cost. The total cost of the investment can range between 9,000 and 16,000 euros for a standard home (a family of three or four members).

Assuming a cost of €16,000, amortization can be achieved in approximately eight years. That would be so thanks to a saving of 2,000 euros per year on the electricity bill. This saving can be even greater if the evolution of the rates continues to rise.

In these eight years we will have saved the same as we have spent, that is, we will have amortized the purchase.

It must be taken into account that this calculation, carried out by specialized portals such as ecoinventos.com, smartspain, idealista and others, does not include the bonuses and subsidies that municipalities are making more and more frequently and that represent added savings.

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In any case, and depending on the circumstances, the amortization margin can vary from a minimum of five years to a maximum of 12. But even in the worst case scenario it is still profitable. And this is so because the useful life of the photovoltaic installation in residential homes usually reaches 30 years.

Solar industry experts say that as long as the payback period for the panels is less than half of the useful life of the system, we will be facing a profitable investment.

Batteries, only for houses far from the network

These calculations refer at all times to installations that do not have a battery to store energy and can also generate electricity at night or in very cloudy periods.

But, according to EFC Solar, another company in the sector, most panels being installed in Spain do not include a battery, as they are not strictly necessary. Yes, they are for homes located in remote places and disconnected from the general electricity network.

This company claims that batteries “increase the cost of the installation unnecessarily and reduce its profitability”In most cases.

They can be useful when energy consumption is going to be done only when there is no sun.

Ordinary installations, without batteries, allow us to continue using the conventional energy network if necessary. And the excess solar energy captured by our panels can also be ‘overturned’ to the network, which translates into an added discount on the bill.

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The installers point out that the panels continue to capture light and generate electricity even on cloudy days, as long as it is not a very persistent situation and with a very high degree of cloudiness.

In any case, the aspects to be taken into account When hiring the placement of solar panels in our house there are several:

-An detailed estimate of the installation to find out what everything will cost when it is already up and running and compare said cost with the cost of the current electricity bill.

-To know if the amortization period will be more or less long, you have to find out what aid is granted by our city council or autonomous community for this type of installation. You have to find out about it and add these bonuses to the budget.

-Take into account the possible loans or credits that you are going to request to pay for the installation, as they will also vary (in this case upwards) the budget.

-If you live in a place isolated from the conventional electrical network, you will have limitations of solar energy supply during the night, because you will only depend on your plates. In that case, you should inform yourself of the costs that a battery would entail to accumulate energy, which will make you totally self-sufficient.

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