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Cheap electricity rates for solar panels: in how many years are they amortized?

Date: March 20, 2023 Time: 19:39:15

With electricity prices at all-time highs, in the year 2022 there has been a real ‘boom’ in solar panels. According to data from the CNMC, more than 130,000 customers of the power lines had a self-consumption installation in 2022, since demand has also increased in the industrial and commercial sectors. A trend that continues to rise, but if you are thinking of placing them in your home, you must first know what rate to hire to amortize the panels in the shortest possible time.

The first thing we should look at is our bill. If our consumption is low, it will take a long time to amortize the installation, so much so that it cannot become profitable. For example, a couple that works outside the home, has heating and hot water with a gas boiler and consumes energy at night, would not be financially compensated.

How much to install solar panels on a house?

An average installation of solar panels at home can cost between approximately 4,000 and 9,500 euros, depending on the number of panels, whether or not they have a battery to accumulate energy or the difficulty of the installation. For this reason, it is very important to request budgets from different companies to make sure that the dimension of the installation is correct for our home and needs. The normal thing is that the installation is connected to the electrical network so that the general electrical supply provides energy in the hours in which the panels do not produce.

According to the OCU, the ideal “would be to be able to produce exactly the same as the installation consumes”, something very complicated, so it is always better “that photovoltaic systems for self-consumption are ‘undersized’ rather than ‘oversized'”, that is that production is never greater than consumption.

Because it is normal that during the hours of sun, there is a surplus of electricity production. In this case, the usual thing is that “the excess energy is exchanged for the electricity that is taken from the general electrical network when the photovoltaic installation does not produce,” says the OCU.

Best electricity rates with solar panels

The first thing to look at before contracting is the price at which they are going to charge us for the energy consumed in the hours when there are no sun rays. Second, how much are they going to pay us for the energy poured into the grid when a surplus is produced. With these two conditions, mainly, and taking into account the average consumption profile provided by the Ministry for Ecological Transition in 2022, the OCU has listed the most and least recommended rates for photovoltaic self-consumption.

The best one is Let’s make it easy from BONPREU, which is the one that pays the most for surpluses (€0.15/kWh) and offers the virtual battery system free of charge, which allows energy that could not be compensated in a balance to be accumulated in a balance. a month to use it in the future or even take advantage of it in another home of the same owner. An annual cost on the electricity bill is estimated to be between 145 and 753 euros, depending on the size of the house, consumption, and the number of panels installed.

For example, a home with 1.8 kW of panels installed will save less on the electricity bill, but the initial investment will be less. It would take about 9 years to recover the investment. On the other hand, a 7.65 kW installation would save more in electricity, but it would take about 12.5 years to recover the investment because it will be more expensive. The ideal, with this BONPREU rate, is to install 3.15 kW, since the cost would be recovered in 7.5 years with the savings in electricity.

What rate is the least recommended?

At the opposite pole, and to see the difference, the OCU comparator places the rate GANA ENERGÍA 2.0TD Stable Price TG in the last position. It is the one that pays the least for surpluses (0.07 €/kWh) and the annual cost on the bill for a family will vary between 448 and 1154 euros.

This would make the investment take longer to recover. Whether 1.8 kW or 7.65 kW are installed, the estimated time is about 16 years. The best option would be to install 4.05 kW, the cost of which would be recovered in 14 years.

Help to install solar panels at home

Within the Recovery, Transformation and Resilience Plan, there is the Incentive Program aimed at promoting self-consumption electricity facilities, reducing the cost and, therefore, shortening the amortization. The amounts of aid for photovoltaic installation for self-consumption vary between 300 and 600 euros/kWp.

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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