Survey reports average solar PV installation is under £12,000

A new survey has found the average solar PV installation to be less than £12,000.

Solar Guide, which specialises in solar installation quotes and industry related news, has found the average cost of a completed solar PV installation to be £11,657.

The findings are based on statistics taken from the second half of 2010 where the company reviewed 2030 customers using a total of 286 different installers.

The purpose of the research was to see how quickly customers could expect to see a return on their investment and to investigate the growth of the UK’s solar market.

According to Solar Guide, the Government’s Feed-In Tariff (FIT) has had a big part to play in the success of rising PV installations.  In fact, since the launch of the Feed-In Tariff in April 2010, more than 21,000 registered installations have been carried out across the UK.

The Feed-In Tariff scheme allows homeowners, businesses and communities to receive payments for generating their own renewable electricity. As well as lowering their energy bills this scheme has the added advantage that applicants can receive extra cash by exporting any unused electricity to the power grid.

Solar Guide also reports that consumers taking part in the Feed-In Tariff could see a relatively fast return on their investment. It was claimed that consumers adopting a solar PV installation in the beginning of 2011 can expect to pay between £11,000 – £14,000 for a 3 kWp system which would pay for itself in eight to nine years with a return of five to six per cent AER over 25 years.

David Holmes, founder of Solar Guide said: “The statistics by Solar Guide shows a positive response to the Government’s Feed-In Tariff. Our customers are seeing the benefits of solar electricity for themselves and the profits to be gained from this growing market.”

To visit the official Solar Guide website, go to www.solarguide.co.uk

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