Amortising the installation of solar panels is now a reality, the use of this renewable energy is no longer an exorbitant expense. The initial investment is now easier to recover.
1. Why are solar panels profitable?
Solar panels are also cost-effective for single-family homes and condominiums. There are two reasons for this. On the one hand, it means lower prices in related sectors. Currently, the average per square metre is between 600 and 800 euros. On the other hand, because of the continuous increase in electricity tariffs in Spain. Combining these two realities, the initial investment in solar panels is finally recovered. In addition, once the installation is completed, the value of each home will increase.
2. How much energy consumption can these installations reduce?
From the research surrounding this newly created model, the use of smart batteries in these installations can help to amortise costs. In fact, it is estimated that savings of up to 70% can be made on each household’s electricity bill. There is no doubt that the current facility to collect energy and not consume it will affect this data. In addition, these devices have self-management functions.
3. What subsidies are available for the installation of solar panels?
Another advantage has to do with subsidies. The Autonomous Communities are increasingly in favour of incentivising this responsible model with financial aid. In some regions, up to 80% of the investment in responsible projects is covered.
The city councils of several provincial capitals and towns with more than 100,000 inhabitants offer IBI discounts. These rebates apply for the years immediately following installation. In addition, the government will reward those who develop projects of this type in municipalities with less than 20,000 inhabitants. These subsidies help to amortise the installation of solar panels, reducing costs.
What numbers are we talking about? The national law states that for single-family houses a maximum of 12,000 euros can be granted. Each house in each building can receive up to 8,000 Euros. In any case, the aid must not exceed 40% of the investment. In the case of a grant, the installation must be completed within a maximum of 24 months.
4. When will the investment in the installation pay for itself?
The simulator for photovoltaic panels with storage offers you a detailed study of your installation. In this way, you can find out when the cost will be amortised, among other things. However, there is a simple operation with which you can also estimate the number of years it will take to recover the investment. We advise you to do it.
Calculating the payback period is simple. How much have you paid to install your solar panels? Subtract the amount received in subsidies from the final figure. What benefits does this renewable energy bring you each year? To get the exact answer you must also take into account how much your property has appreciated in value. Then divide the first figure by the second. The result corresponds to the number of years it will take for the money you have invested to return to your pocket.
Research by experts on this subject yields revealing data. It is estimated that users who opt for this type of renewable energy optimise their costs over the course of 7.5 years on average. You should also know that solar panels have a lifespan of around a quarter of a century. Therefore, once these initial costs have been recouped, your savings rate will only increase.
As you can see, installing panels on your property is a wise bet. Paying off the installation of solar panels is relatively simple.