What are the benefits of solar panels?

What are the benefits of solar panels?

There are many benefits of solar panels – they are a clean, green and practical way of generating electricity. But there aren’t just environmental benefits. Solar panels can help people to...
Save money on electricity bills
Earn money on the electricity they generate
Reduce carbon footprints
Comply with Part L regulations

Read on to learn more about the benefits of solar panels for your new build development. For your homeowners and the planet.

1) Save money

In this age of rapidly rising electricity and gas prices, every penny counts. Solar panels can help homeowners save a significant amount of money on their energy bills – potentially hundreds of pounds a year.

According to Solar Energy UK’s The Value of Solar Property report, the average household could cut their energy bills by 29% with a solar panel system, saving £329 per year. And in the best-case scenarios, this could almost triple to a saving of over £960. Amidst warnings of the increasing energy price cap in October 2022, a solar PV (photovoltaic) system could drastically reduce energy bills.

And when it comes to sell your property, solar panels could add significant value of around £2,000.  

2) Earn money

The government-backed Smart Export Guarantee (SEG) scheme can help homeowners in England, Wales and Scotland earn money back on the electricity they generate and export back into the National Grid. And in Northern Ireland, you can also get paid for the electricity you export through several providers.

The money that you receive from the scheme will depend on your energy provider. The Energy Saving Trust estimates that, if London-based residents are home all day, annual savings could be £110 more with the SEG than without. Although this varies on how much time you spend at home and your location, SEG is worth investigating for any solar panel owners. Especially as it could help cut payback time by up to six years.  

There are a few conditions to earning money with the SEG scheme, but many domestic PV systems will be eligible. For example, technology and installers of the PV system will have to be certified with the Microgeneration Certification Scheme (MCS) or equivalent. But don’t worry – Futurelec is certified with the MCS and a number of other bodies. Learn more about our commitment to safety.

3) Reduce carbon footprint

Solar PV systems generate electricity without any environment-damaging fossil fuels. Instead, they use energy from the sun and convert that into usable electricity for your household – and, contrary to popular opinion, without relying on constant direct sunlight.

They can help the UK on its road to net zero carbon emissions – an essential goal if we want to halt the climate crisis. The Energy Saving Trust has estimated that, depending on location, a single domestic solar PV system can help save one tonne of carbon per year.

The International Renewable Energy Agency (IRENA)’s Avoided Emissions Calculator estimates that, in 2018, 9.4 million tonnes of CO2e (greenhouse gases) were avoided due to solar PV technology. With increasing awareness of the severity of the climate crisis and subsequent growth of renewable technology, we hope that this number will only increase.

4) Comply with Part L regulations

The June 2022 Part L uplift means that new build homes in England will have to produce 31% less carbon emissions than by previous standards.  

Solar PV systems and other renewable technologies, such as air source heat pumps, will help to reach this goal. And future-proof for any future uplifts as part of the Future Homes Standard. While not fully mapped out, it is expected that new homes will have to reduce their carbon emissions than 75-80%, compared to current standards.

It is essential that new build developers comply with these regulations for the future of our planet.

Read more about what the new Part L regulations mean for you and your new build development in our blog post.  

Solar panels have many benefits for your development, your homeowners and the planet. If you’re interested in learning more about installing solar panels on your new build homes, check out our products today or get in touch.