FACT!
In just one hour, the sun emits as much energy as we consume in an entire year. Worldwide! In fact, the amount of solar energy we get is as much as 9,000 times our total energy needs.
Solar panels have become rapidly popular in recent years. The rise in energy prices, combined with the Ukrainian war and energy crisis, has led to a growing interest in renewable energy. But not everyone has money for solar panels.
Research shows that 75 percent of homeowners do not know that subsidies and loans for sustainability exist. Let alone being aware that purchasing solar panels can provide significant savings and even free money. We explain how this works below.
Substantial investment
Prices for a solar panel installation vary among providers. For an average system of 10 solar panels including installation and inverter, costs range from about €5,000 to €7,500.
According to sustainability research firm Good, 6 million Dutch households will have solar panels (2023). But the question is why don’t more homeowners invest in them? One common reason is the initial cost.
It seems to be a hefty investment, and not everyone has money available to spend all at once. Research commissioned by Milieu Centraal shows that 40% of people consider making their homes more sustainable as “too expensive.
source: rtlnews
Financially just advantageous
However, it is important to know that this is not always the case. Because financially, you may actually be better off if you invest in solar panels. That solar panels are actually profitable for an average household is shown in the example calculation below.
An average household consumes 2479 kWh of electricity annually, equivalent to about €83 per month at an electricity price of 40 cents per kWh. If you purchase 10 solar panels that generate about 3600 kWh per year, you can greatly reduce or even eliminate this monthly cost, thanks to the principle of net metering.
Netting allows homeowners to offset used and self-generated electricity against each other on annual energy bills. Although net-metering will (probably) be phased out starting in 2025, homeowners who opt in now can take advantage of it. Read here what has changed with in the net-metering scheme.
Borrowing is a smart move
The cost of solar panels can be a barrier, but borrowing to finance them is a smart move. The Heat Fund offers a loan with an interest rate of 4.1 percent, and homeowners with an annual income of less than €60,000 are eligible for an interest-free loan. Some municipalities and counties even offer interest rate discounts, which can further reduce the financial burden.
Because the monthly cost of the loan is often less than the monthly energy costs, homeowners can save a few tens each month instead of paying more.
Clearly, there is a need for more awareness and understandable tools to help people understand the financial benefits of solar panels. Our team is ready to support you in this effort!
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For now, the main focus is on developing smart technologies to make the best use of solar energy. In this regard, the more we invest in solar energy, the more sophisticated and efficient its generation will become.
A mass switch to solar energy is of great importance. It is essential that consumers understand that fossil fuels are no longer acceptable. Fortunately, more sustainable alternatives exist today, such as wind and hydroelectric power. By embracing these sources, we can make great strides toward a world that runs entirely on clean energy.
The power of solar energy and its potential for a sustainable future are evident. Now it is up to us, end users, to take action and realize this potential.
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