Are solar panels worth it?

As well as saving you money on your energy bills, solar panels can also earn you money. And don't worry, our solar panels can still generate electricity on gloomy days, vital for homeowners in countries like the UK where weather patterns can be unpredictable.

As the price of energy has rocketed, and the price of solar panels has come down, generating solar power and using it yourself gives a far bigger saving now than ever before.

Under the smart export guarantee (SEG) scheme which launched in January 2020, households in Great Britain get paid for solar energy they 'export'. This is electricity you generate, but don't use yourself, which is then pumped back into the national energy grid.

The smart export guarantee (SEG) scheme works by requiring energy suppliers with 150,000+ customers to offer 'tariffs' to households in England, Scotland and Wales, which pay a set rate for each kilowatt hour (kWh) of electricity you generate from solar panels, but don't use yourself.

Crucially, the amount you get back depends on the company and ranges from just 1p per kWh to 15p per kWh (Octopus Agile Outgoing can pay more than this, but the rates fluctuate every half an hour) - so make sure you go for the best-paying tariff you can. Although it doesn't have to be the same firm that supplies your energy, but with some, it helps you get a better rate if you are a customer already. And keep an eye on the rate you're getting as many are variable.

Alongside the benefit of receiving free electricity, solar panels help lower your carbon footprint. For people concerned about the environment, solar panels offer a clean energy source that helps you do your bit in the fight against global warming.