Solar panels are expensive and the industry has been subject to quite a lull recently due to the cost and cut in feed-in-tariff. It is a serious investment to get a solar panelling system in your home, and, with the concerns over how much added value they add to your property, homeowners have been sceptical. IKEA recently launched their fully-installed, all-inclusive solar package at a price that doesn’t completely break the bank for years and years. But with IKEA being such a large retail chain, what is the likelihood that this system is a good investment?
Housing Energy Advisor investigates…
What’s the deal?
IKEA has put together solar packages that start from £5, 700 for a semi-detached home and the price includes installation. The solar panels may come in a flat pack, but this time they will install them for you. It has been estimated that solar paneling of this nature could save an average three-bed home up to £800 a year in bills.
The pilot project
As you would expect with something this big, IKEA ran a pilot project to see how popular the scheme would be. After very successful results at its Lakeside store in Essex, which claims to be selling one photovoltaic system every day, IKEA has decided to stagger the release of the solar panel packages across 17 UK stores in the next 10 months.
Installation
We are all used to IKEA products coming in a flat pack; we brace ourselves for a night full with Allen keys and confused expressions. This will not be the case with the purchase of the solar panel package. Hanergy will be providing the installation service on behalf of IKEA and will survey and install the panels on your roof.
Is it worth it?
Many people are still concerned as to whether the investment will be worth it financially and environmentally. Unfortunately the coalition government reduced the feed-in tariffs (Fits), the amount households are rewarded for installing solar, so the return on the investment is not as exciting as it has been. The industry has suffered as a result and as demand dropped, many have fled the industry.
This all took place before the costs came down and now that the upfront costs aren’t as steep, solar is worth considering. IKEA claims that the system that costs £5, 700 would pay itself off in approximately seven years. A semi-detached home in Southampton, for example, would make up to £800 through the Fits scheme as well as money saved on energy bills.
Geographical variations
The savings do fluctuate across the country but are worth considering still. The income that you will gain from your solar paneling will depend on several variables:
- Roof direction and pitch
- Shading
- Location of your home.
The further south you are, the better.
Your home’s energy efficiency
There really isn’t any point in considering solar panels unless you have a home rated in band C or above according to the Energy Performance Certificate.
If you live in a home that is between band A-D you receive twice as much money in payments than those homes in bands E & G. You won’t see a financial return f you home isn’t already efficient.
Is it a good idea?
Anything that helps your home become more sustainable is a good idea, and it is great to see a huge chain like IKEA take the lead on, not only raising awareness, but with providing a product that is within reach. IKEA’s solar panels are at the lower end of the panel spectrum with regards to cost but there are other companies out there in a similar range, so doing some research in your area is worth the time. IKEA claims that solar panels could help your cut your bills in half… sounds pretty good to us.
Are you interested in installing solar panels on the roof of your home? What has stopped you so far? Do you trust the IKEA brand with solar? Let us know your thoughts below.
