Shaving some money off rising energy bills by generating your own power is becoming ever more appealing – so much so that solar-panel installation firms are reporting a four-fold increase in orders this year compared with 2021. High installation costs have deterred households in recent years. But “[the] time it would take to recoup the cost of installing the panels from savings on energy bills is expected to get much shorter – from... 11 years at January 2022’s rates to fewer than four years from January next year,” says Ali Hussain in The Sunday Times.
It costs around £6,500 for the average solar-panel system to be installed on a three-bedroom semi-detached house, according to the Energy Saving Trust. Once your solar panels are up and running you can use your household appliances without it costing you a fortune as long as the sun is shining. The Energy Saving Trust says that the average household could save between £165 and £405 a year with solar panels.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
New electric car grant worth up to £3,750 announced – how the scheme worksThe cost of a new electric car could be cut by up to £3,750. We explain how the new electric car grant works, and what cars are likely to be made cheaper.
-
The Treasury and the FCA want you to invest more – what the Leeds Reforms mean for your moneyAn overhaul of regulations and capital market rules by the Treasury and Financial Conduct Authority aim to boost retail investment. We explain what it means for you
-
AJ Bell: a fine British fintech going cheapOpinion Don’t overlook investment platform AJ Bell, a significantly undervalued British business with an excellent financial base
-
Investors should buy into the nuclear power renaissance – Merryn Somerset WebbOpinion A new golden age for nuclear power is upon us, says Merryn Somerset Webb
-
The British railway industry is in rude health – here's why investors should jump aboardThe railway industry has bounced back from the devastating impact of the pandemic and is entering a new phase of development – and profitability
-
Infrastructure investing: a haven of stable growth amid market turmoilFrom booming construction in emerging markets to digital and green transitions, the infrastructure sector offers security, returns and long-term opportunities
-
The costly myth of “sell in May”Opinion May 2025's strong returns for US stocks have once again shown that putting too much weight on seasonal patterns will only make investors poorer, says Max King
-
Who’s driving Tesla?As Elon Musk steps back from government with his eyes on the stars, investors ask if he’s still behind the wheel at his electric-car maker.
-
Investment opportunities in the world of Coca-ColaThere is far more to Coca-Cola than just one giant firm. The companies that bottle and distribute the ubiquitous soft drink are promising investments in their own right.
-
Streaming services are the new magic money tree for investors – but for how long?Opinion Streaming services are in full bloom and laden with profits, but beware – winter is coming, warns Matthew Lynn
