Are solar panels profitable - yes or no?
Are solar panels profitable?
The short answer is YES - solar panels are profitable! Solar panels are both a great contributer to the environment and profitable. Whether you own a house, are a member of a housing cooperative or responsible for a farm, solar panels are something that everyone should consider. In fact, you can even make some extra money from investing in solar panels.
When you're calculating how profitable solar panels can be for you, you usually take into account the repayment time, expenses and expected revenue. We will walk you through some things that might be good to keep in mind before you use the solar panel calculator solar calculator
Reduce your costs - and make money on solar panels!
✓ The government supports grants
First of all, you do not have to pay the entire amount yourself. In Sweden, owners of solar panel plants have the opportunity to apply for grants. This is called investment-support and it means that the government covers 20 % of the costs of installing solar panels.
If the investment grant is not relevant to you, you can use the ROT-deduction, which covers up to 30 % of the costs for the work performed during the installation of the solar panels. But remember that you can't combine the mentioned grant with the ROT-deduction!
✓ Your solar panels cover your own electricity consumption
By producing your own electricity with solar energy, you can cover your hoseholds consumption of electricity, either for the whole year or for most parts throughout the year. This means that you will not become as dependent on electric companies or as affected if the price for electricity should rise.
Are you a co-op that's considering solar panels? Can solar panels be profitable for you? Producing your own electricity can reduce the electricity costs for your common spaces in the co-op. For the money you save, you can perhaps invest it in something else that the housing cooperative needs. Just that reason itself makes solar panels a profitable alternative and worth considering in your association.
✓ Your solar cells can generate revenue
During the summer, Sweden offers plenty of sunlight. These are optimal conditions for the production of solar energy, which means that many solar panel owners are producing more energy then they manage to consume. By selling your excess energy you can get an extra income, somewhere between SEK 0.30 to 0.40 per kWh.
As a micro-producer of renewable electricity, you can also apply for a tax reduction of SEK 0.60 per kWh. This benefit can be used by all solar panel owners, if you who want to install solar panels in your household or farm and dream of installing a larger solar panel plant.
Finally, as a solar energy producer, you also have the opportunity to apply for (and sell) electricity certificates. All producers of non-renewable energy in Sweden need to buy electricity certificates from those who produce renewable energy. The prices may vary since it depends on the supply and demand, but it can give you about 0.1 SEK per input kWh to you as a seller of certificates. This is also an initiative from the government that promotes renewable alternatives and gives micro-producers an extra opportunity for additional revenue.
Examples of profitable solar panel projects
At SVEA Solar, we help thousands of customers to install solar panels for homes, farms and businesses. Explore some examples of what a successful and profitable solar panel investment can look like!