“Should I buy solar panel technology or a new car? I was wondering the other day why a person would spend, on average, £15,000 on a new car, which in most cases they don’t really need, but probably bought more as a status symbol to better Mr and Mrs Jone’s model next door.”
Your average new car depreciates £10,000 in the first 4 years of its life. You can pay for an average sized solar panel installation with the money you would have lost through depreciation.
Alternatively, you can still impress your neighbours with a pioneering solar panel system instead, which will still be benefiting you 20 years from now, when your new car is a long and distant memory.
The financial benefits of solar panels
In a world where energy continues to become a premium price utility, solar panels and micro generation systems have never made more sense than at present.
Stuart Lovatt from Heat my Home says, “Compare the benefits of spending your money on a new car, or investing it in solar panels for your home. You will find that solar panel will give you better value for your money than the car. At the moment, solar is the only technology you can buy which will generate energy and save you money at the same time for as long as 30 years.
If you can keep your old car for 4 years longer and install solar, then you can use the money which you would have lost through depreciation if you chose to sell the new car within these 4 years.”
The next big thing
If fashion is your motivation for a new car every few years, then solar panels really are for you. Once upon a time, people used to enjoy being the first to get a new technology-think about Televisions, PCs or iPads.
The satisfaction of being the first person in your street, your family or friends to install solar panels will give you something to boast about for years to come.
Whatever your motivation for purchasing a new car this year, I would strongly urge you to think about, then compare the alternative of a solar installation instead.
The feed-in tariff scheme currently in place is designed to reward earlier adopters more than later adopter’s of solar technology, so timing is crucial to get the maximum financial benefit from your solar panels.
If only we could persuade motor manufacturers to design cars to last as long as solar panel technology!
Maybe one day!
"Feel the pride."
Stuart Lovatt on
Founder of Heat My Home.