“Is now the time for Irish families to consider solar power as energy prices remain worryingly high?”

Many consumers in Ireland are still feeling the burden of high energy prices, even though wholesale rates have decreased in recent months. The Central Statistics Office reported that wholesale electricity prices dropped over 50% in the 12 months to March, while natural gas prices have likewise seen a significant decline. However, Irish families are still paying approximately 44 cent per kilowatt hour for electricity – double the wholesale price and well above the 15-18 cent per kWh paid prior to the price hikes of late 2021. With this in mind, solar power has become an attractive investment for those looking to save on energy bills. Recent initiatives have made it easier to install solar panels on homes, and homes built and occupied before 2021 may now apply for grant aid to offset the cost of installation. While selling excess electricity back into the grid can also help offset the costs, the grants available from the Sustainable Energy Authority of Ireland (SEAI) have decreased. However, the government has eliminated VAT on solar panel installation, which should ultimately lower costs for consumers. The maximum grant available for households to install solar panels is €2,400, and it is recommended that homeowners secure grant approval prior to installation. The SEAI suggests a professional Building Energy Rating (BER) assessment be conducted after installation to complete the grant process. While the cost of electricity is expected to decrease over the next 12 months, solar power remains a worthwhile investment, with the potential to pay for itself in as little as five years.