There has been a monumental increase in solar panels installations in Ireland over the past few years, with thousands of homeowners reaping the benefits of the green technology through lower energy bills while reducing their carbon footprint.
In 2023, the number of installations with SEAI grant assistance was 22,710, more than double the figure recorded the previous year.
2024 will be a record year for solar in Ireland, and the overall solar PV capacity in the country more than doubled over the past 18 months to over 1.2 GW.
One of the many reasons for the rise in solar in Ireland has been their relatively low cost.
Solar panels Ireland cost much less than their European counterparts thanks to grant funding provided by the SEAI, the Sustainable Energy Authority of Ireland.
Although the grant was reduced at the start of 2024, the latest statistics show that this hasn’t had an adverse impact on the number of installations being carried out.
One of the main reasons for Ireland’s solar revolution is the remarkable decrease in the cost of solar PV panels over the past decade.
Costs have fallen by 90% in the past decade alone, leading to a solar frenzy not only in Ireland, but across the world.
Installations are projected to increase even further in 2025 as homeowners are more eager than ever to reduce high energy bills.
Electricity prices in Ireland remain among the highest in the European Union, meaning those with solar panels enjoy among the most considerable savings.
As well as that, those who have adopted solar also enjoy much quicker payback periods than in countries with lower electricity prices.
The average electricity consumption for Irish households is 4,200 kWh, and a solar array comprising just 8 high quality panels could deliver 3,000 kWh of free electricity per year.Â
After the grant has been factored in, 8 panels would cost homeowners in the region of €6,500. With savings of around €900 per year, Irish households break even in just 7 years.
A larger system of 10 panels would cost homeowners €7,500, generating 3,600 kWh annually, while 12 panels would be €8,500, delivering 4,700 kWh – more than the total average household consumption.
One of the main benefits of solar is their long lifespan, and they typically have a 25-year warranty and are often covered by Irish home insurance providers. Over the lifetime of a solar array, homeowners often see savings of over €20,000.
But despite the many benefits for homeowners, the massive drop off in EV sales this year following grant reductions should serve as a reminder to the government that further growth is far from guaranteed.
Planned grant reductions of €300 each year should therefore be carefully considered, despite the huge decrease in costs for solar installations – as the SEAI supports serve as a major incentive for homeowners to make the leap and join the solar revolution.
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