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This video will give you the information you need to decide if solar panels are worth it for you. You'll soon learn all about the costs and savings of solar energy. However, we there's one thing we need to clear up first: There are two different types of solar panels on the market. The older type is solar thermal. Solar thermal panels can be worth it if you use a lot of hot water. However, the newer type, solar PV, is the better option for the vast majority of people, because solar PV panels can provide both electricity and hot water. PV has some surprising added benefits too - more on that later. So let’s focus on solar PV from here on.

You may be wondering if we get enough daylight to make solar panels worthwhile in Ireland? Well, a typical home solar panel system provides 3,000 units of electricity per year in Irish conditions. That’s enough to cover around 70% of the electricity use for an average Irish household. So yes, a modern solar panel system can give a very decent electricity output, which translates into substantial savings on your electricity bills.
In euro terms, a household with an annual electricity bill of €700 per year can save around €300 per year with solar alone or €450 per year with solar and a battery. For a household with an annual electricity bill of €1,500, savings could be €700 with solar alone or €1,050 with solar and a battery.

The savings sound great, but what is the up-front cost of solar? As a rough guide, solar panels for your home generally cost somewhere from €5,000 – €15,000. However, you can get a grant of up to €3,000 which brings the final cost down to around €3,500 - €12,000. Getting high-quality quotations for solar panels can be a minefield. Thankfully though, EnergyD's quote comparison service, with our pre-vetted network of Irish solar installers makes it easy to compare and select the best quote for you. Just enter your Eircode, answer a few simple questions, and we''ll take care of the rest.

Once you know the precise costs and the savings, you’ll be able to determine if buying solar panels will be a good financial decision. There are a couple of ways to weigh up solar panel finance. First of all, you can compare the return on your solar panels to other investment options like bank deposits or stocks and shares:
The year one return on investment for solar panels is generally somewhere in the range of 8-15%. After that, returns are likely to improve as inflation leads to higher electricity prices over time. For perceptive, savings accounts only pay around 2%, while you can make around 9% on the stock market. Solar panels compare even better as an investment when you take taxes into account.

Another way to look at solar panel finance is to compare going solar versus paying higher electricity bills. Let’s say the solar panels cost you €7,000 after the grant, and save you €875 per year. Factoring everything in, going solar would leave you €23,625 better off over the 35-year lifetime of your panels.

Apart from the financial return, there are three added benefits to take into account when you’re deciding if solar panels are worth it for you.

The first added benefit of solar panels is the option to include blackout protection. Specifically, by adding a battery and a special inverter you can keep your lights on even when the grid goes down. Blackout protection generally won’t be enough to cover very heavy loads like electric showers. However, it can keep your fridge running and let you use small appliances like lights, microwaves, and televisions. If you live in a part of Ireland that’s prone to power outages then it could be well worth opting for this feature.

Another benefit of solar panel systems is they often come with household energy monitoring. This lets you view your real-time and historical electricity usage from an app on your phone. With real-time energy monitoring, you’ll quickly learn which devices in your house are “energy hogs”. You could be surprised how easy it is to make even more electricity savings using this information.