04/12/2024
Is Renewable Energy a "no brainer", how cheap will it get, what are the risks, and how to choose the right installer?
On the face of it, harnessing free energy from the sun, wind, air or ground makes total sense. But harnessing it is one thing, it's what you do with it that counts. Battery systems have had a profound impact on the viability of many renewable solutions by storing energy for when you need it so you can be ultra-efficient with the way it is deployed. It's fair to say that all credible solutions should now included battery storage - we'll cover this in more detail in a future.
The solar sector is growing at an enormous rate, with enquiries outstripping installation capacity in some areas - especially since the recent material price drops due to increased competition between manufacturers, mass production cost benefits, and oversupply in some areas.
This is great news for customers as the economic benefits have never been more generous.
Will prices remain so low?
Right now it feels like there's a sweet spot for Solar and Battery solutions, even small installs offer good returns on investment, so even more properties can benefit.
The prices for panels seem to be as low as they're going to be for the foreseeable, with further price reductions likely to be in pence rather than pounds.
Inverters appear to have some opportunity to reduce in price but there will be a limit as we must consider they have to include ongoing operational costs such as monitoring and support.
Batteries certainly feel like there is more to come, cell prices are reducing with every new generation and battery technology has definitely not peaked yet. But it's worth bearing in mind waiting for price drops will mean losing out on cheaper energy in the short term so it's worth calculating those cost benefits.
You have probably noticed that many installers are using price as a differentiator, and racing to be the cheapest on the market, but is that a good thing?
Trying to chase the lowest price likely means that other areas may have been compromised such as quality or service.
Luckily for customers, the MCS certification scheme provides some protection as it requires materials suppliers and installers to meet minimum requirements - so as long as your installer is MCS accredited and users MCS approved materials then you can have some piece of mind that you're getting a quality product.
Speaking of quality products, you may or may not know that there are literally hundreds of different manufacturers of panels, inverters, batteries and all the other ancillary equipment. And like with any other industry there are differences between them, it's not one size fits all.
Just as in the automotive sector, where there's Dacia at the lower end of the market, Mercedes in the upper mid range, and Rolls Royce towards the top, the same can be said for solar equipment, the differentiators being their efficiency, performance, quality, warranty and lifespan.
Not all equipment is equal, bear that in mind.
Our advice is to consider the following things when choosing your installer:
1. Are they MCS accredited? - you'll need this for several reasons including exporting electricity, selling your home, etc. Ensuring that the system and installer is MCS accredited provides peace of mind that everything is safe.
2. Is the system being offered the best for your exact needs? - can it provide the maximum demand from your home. Are the warranties longer than the payback period.
3. If they are really cheap, consider what has been compromised. Will it be the aftercare? Will they still be around in 2 years after the insurance backed installers warranty expires? Have they used cheap products just to win on price? What's missing from their quote?
With this information, choosing a quality installer shouldn't be difficult to do, there are plenty of trusted, experienced installers who can provide you with the right advice and recommend the most suitable system to meet your needs, just be cautious of those trying to win your business based just on price.....
If you require impartial advice we're also here to help.
