Solar panels are increasingly popular in Italy and are now a very reliable technology that can cut energy costs. Solar energy is also becoming more widely available, with companies like IKEA even selling solar panels in Italy. Let's see how these photovoltaic systems work and how much you could save by installing solar panels in your home in Italy in 2021.
A photovoltaic system is made up of panels that convert the energy of solar radiation into electricity that can normally be used to meet the energy needs of a standard home. The latest generation of solar panels in Italy have reached a very high level of performance and stability, and the maintenance required to ensure the highest standard of operation is also minimal.
In detail, the operation of a solar power system can be varied. The electricity produced by the panels can be used immediately (self-consumption) or can be fed back into the grid (known as on-site exchange, which entitles the user to a discount on their bill) or can even be stored and used later in specific storage systems.
A 3Kw photovoltaic system (standard household power in Italy) can cost between 7,000 and 10,000 euros, while solar panel prices in Italy vary depending on a range of factors. In this case, by using the self-consumption option, the savings that you would make when it comes to household utility bills would be up to 90% and the payback time would be 5-7 years. In the most virtuous cases, those with total self-consumption, electricity bills can even reach zero. After the seventh year of installation, the average annual financial return is said to be around 12%.
If the photovoltaic system is designed to exploit its potential to the full (sun exposure is very important), it generates an average annual profit of 893 euros, guaranteeing a return on the investment within 7 years. The resulting financial yield in Italy is calculated at 13.22%.