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If you’re looking to install a solar thermal system in your home, this is usually one of the first concerns several homeowners have. Being fully aware that solar water heating systems are usually more expensive than their counterparts - the conventional water heating systems, the question arises whether or not you’ll be able to save some money from your solar water heating system in the long run. In this article, we aim provide an answer to this important question. Let’s take a closer look!

When it comes to solar thermal systems, the money you’ll be able to save in the long run depends on a wide range of factors. These factor includes:

✓ Your system’s performance.

✓ Your geographical location and solar resource

✓ Your household’s hot water demand

✓ Financing and incentive options that are available.

✓ The cost of fuel that’s being used for your alternative or backup water heating system, if you own one.

✓ The cost of conventional fuels such as oil, electricity or natural gas.

There are several benefits, however, that comes with the installation of a solar water heating system. Since the sun is absolutely free, future fuel shortages and price hikes will have little impact on you. Also, on the average if you decide to fit a solar thermal system your water heating bills is expected to drop about 50 percent to 80 percent. What’s more? The economics are even a lot more attractive when you’re just about to build a new home or refinancing. When you include the price of a solar water system in a 30 year mortgage, it’ll normally amount to very low price per month. Therefore, on a monthly basis you’ll be saving more and paying less.

Solar panels are a great source of energy with numerous benefits that comes with it. However, the main thing that puts off most homeowners or potential buyers is the fact that the equipment are usually very expensive. So if you’re planning to purchase solar panels to be installed in your home, then you’d probably want to know if it’s actually worth the investment or otherwise. In this article, we aim to give you a good insight into how solar panels works and if its a viable investment.

Generally, the length of time it will take for your solar panels to payback and whether you’ll be able to make money from them will be based on the following factors:

✓ The solar panel PV system’s cost.

✓ The amount of the generated electricity that you’re able to use.

✓ Whether as well as the amount you’re paid to the electricity you’re able to generate and export.

To know whether your solar panels are truly worth it, then a higher initial cost to fit the system will require to be settled with the amount you’re able to save through the use of the renewable electricity it produces, rather than making purchases from your electricity company. In other words, the more renewable energy you’re able to use, the more savings you make. If you’re registered for the FIT and paid per kWh of electricity produced, for 50 percent of that, which is assumed to be exported to the grid. Therefore, if you’re able to use more than 50 percent, you’ll be able to benefit from the investment.

Obviously the performance of a solar thermal system will vary depending on the location of the home, the insulation of the property, and your own hot water requirements. Solar thermal panels are capable of providing all of your hot water requirements from April to September. They will still make a contribution to your hot water needs for the rest of the year, but in general you will need a backup system to further heat the water in the colder months.

So do you wish to take advantage of the heat generated by the ground to warm up your home by getting a ground source heating pump? If yes, then you’d also probably be wondering how much a ground source heat pump is going to cost so you can set a budget and start planning.

Installing and running ground source heat pump can cost between the range of £600 to £700 to run on an annual basis, meanwhile it can cost you within a range of £13,000 to £19,000 to have installed. However, you should take note that these prices can be by varying influencing factors such as the size of the installation as well as any other extra work that may needed to complete the job.

When it comes to estimating the time it takes to recover the initial cost of the system via energy savings, nothing is certain as this can be very hard to determine or predict. The main reason for this is due to the fact that it’s dependent on the efficiency of your heating system, the type of system you’re replacing ( whether or not you qualify for Renewable Heat Incentive -RHI payments ), the efficiency of your home’s insulation, how efficiently the system’s controls are being used and how the heat generated from the ground source heat pump would be put to use. However, to figure out how much you’ll save, the type of fuel replacing is perhaps the most essential. For a four bedroom detached house, you can save between a range of £1,200 to £1,300 for a LPG fuel replaced, £1,400 to £1,500 for an electricity fuel replaced, £600 to £700 for an oil fuel replaced and finally, £200 to £300 for a solid fuel replaced.

Not only will you reduce your electricity bill by generating your own electricity with solar panels, but you can also earn money through the SEG which is offered by large energy suppliers. They’ll pay you for the electricity you export back to the grid. You’ll also reduce your carbon footprint, lessening your impact on the environment.

The more you’re at home during the day, the more you can save on your electricity bill, since solar panels generate electricity during the day. The Feed-in Tariff scheme (FITs) ended in March 2019, but the new Smart Export Guarantee (SEG) pays you, via your energy supplier, for the electricity you export back to the grid. With the savings involved in generating your own electricity and SEG payments, you can expect to save up to £390 per year on your electricity bill.

Like every other systems in your home, solar hot water systems will require periodic inspections as well as a regular maintenance in order to keep it running as efficiently as it should. Not only that, the various components will also require either repair or replacement from time to time. It’ll also be proactive to take the necessary precautions so as to prevent worrying issues like corrosion, scaling or freezing.

Is it a task you can handle on your own? Well, there are some inspections and maintenance activities you should be able to handle on your own, however, you’ll also require a qualified technician to carry out the more technical or complicated tasks. You should also take note that it may actually be more cost effective to have some systems replaced, shut off or removed completely than having it repaired. Here are some of the essential inspections that should be carried out on solar system components. They include:

✓ Collector soiling. Periodic cleaning of your collectors is important especially in dry and dusty climates.

✓ Plumbing, ductwork and wire connections. Check the pipe connections for fluid leaks. Examine duct connections and seals. Also make sure that all wire connections are tight.

✓ Roof penetrations. Flashing and sealant around the roof penetration should be checked to see that it’s in a good shape.

✓ Collector shading. Check for shading of the collectors on annual basis as this may greatly affect their performance.

✓ Support structures. Examine all bolts and nuts which connects the support structures to the collectors for tightness.

✓ Heat transfer fluids. Anti freeze solutions in liquid solar heating collectors will have to be replaced periodically. And this right here is a task that’s best handled by a licensed technician.

Most domestic solar thermal panels do not need planning permission and are covered by permitted development rights. There are restrictions on the size and location of these systems. If you live in a conservation area or listed building, or want to install a very large solar thermal system, check with your local authority to see if you will need planning permission.