economy
Of course there is an initial outlay in purchasing and installing a renewable energy solution, but as global energy demand – and therefore prices – continue to rise steeply, the time it takes to pay back the installation costs through reduced energy bills is reducing all the time.
Currently pay-back, as it is commonly known, can be achieved in as little as 3 to 8 years, but this is expected to fall dramatically as technology and economies of scale improve, and energy prices continue to rise.
For a simplified illustration of how installing a heat pump or solar panels can be repaid through reduced energy bills, click here.
