Due to rising electricity prices, solar panels have already paid for itself in less than eight years, Energy Minister Zuhal Demir (N-VA) said in the Flemish Parliament on Wednesday after a question from Robrecht Bothuyne (CD&V).
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According to the minister, an increase in the subsidy amounts is not on the agenda. ‘As a result, subsidies do not end up with the investors, but with the installers, who take the increased subsidy into account when preparing quotations,’ said Demir.
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Drastically shortened
The payback period that Demir mentions is on the high side. Electricity prices have risen to such an extent in the past year that the amounts you save are a lot higher. This drastically shortens the payback period.
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When calculating the payback period, the premium for the installation of new solar panels must be taken into account. This year it will be 300 euros/kWp for installations up to a maximum of 4 kWp and an additional 150 euros/kWp from 4 kWp to 6 kWp. This corresponds to a maximum amount of 1,500 euros. These amounts will gradually decrease in the coming years.
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The energy supplier Eneco recently calculated the payback time for an installation of 14 solar panels with a capacity of 5.1 kWp. Such an installation costs 4,755 euros in the simulation, after deduction of the Flemish premium (1,350 euros). With an annual consumption of 4,800 kWh and a self-consumption of 30 percent, the calculation at the current rates results in a payback period of 3.4 years. For the same constellation at the ‘normal’ rates of before, the calculation is 7.9 years.
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queuing
Many people have understood that solar panels are an interesting way of arming themselves against high electricity prices. The figures from May show that 16,430 installations have already been installed this year, with a total capacity of 71 megawatts. That is half more than in the same period last year.
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As a result, it is time to queue to get the premium for the solar panels. According to the grid operator Fluvius, the average customer has to be patient for 95 days.
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That doesn’t mean people should be afraid to miss out on this year’s bounty. The inspection date on the inspection report determines the amount of a premium, not the processing date of your file. Anyone who has solar panels installed and approved this year will always be entitled to the planned premium amount for this year, even if the award and payment will not take place until 2023.
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