Current energy prices and their impact on the decision to install photovoltaic systems in the home
Rising electricity prices are a significant incentive for many homeowners to invest in photovoltaic systems. In 2024, photovoltaic systems will prove to be one of the best ways to reduce energy costs in the long term while becoming independent of highly fluctuating energy prices.
1. Electricity prices continue to rise
Electricity prices have risen continuously in recent years, becoming a financial burden, especially for households without their own energy source. Forecasts for 2024 indicate a further increase in electricity costs, with an expected increase of approximately 6% annually. The reasons for this increase include higher fossil fuel costs and the expansion of the electricity grid.
2. Advantages of self-consumption
One of the best ways to benefit from a photovoltaic system is self-consumption. This allows homeowners to use the solar power generated directly for their own household, thus avoiding expensive grid electricity. The self-consumption rate can be increased to up to 70% by installing a battery storage system, which significantly reduces electricity costs. This advantage should not be underestimated, especially in times of high electricity prices.
3. Current costs for photovoltaic systems
Prices for photovoltaic systems have fallen in recent years, making the investment even more attractive. A typical system for a single-family home (6–10 kWp) will cost between €8,000 and €20,000 in 2024, depending on the output and components used. Battery storage prices have also fallen significantly, and they now cost between €4,500 and €5,500 for a capacity of 10 kWh.
4. Return and feed-in tariff
The profitability of a photovoltaic system depends largely on its self-consumption. Even without storage, up to 30% of a household's electricity needs can be covered by its own PV system. In addition, the feed-in tariff for solar power improved in 2024, particularly for systems up to 10 kWp, which receive a tariff of 13 cents per kWh. This makes the investment worthwhile even for those who cannot consume all of their electricity themselves.
Conclusion
Given rising electricity prices and attractive subsidy options, installing a photovoltaic system in 2024 is more worthwhile than ever. Homeowners can reduce their dependence on the grid, lower their electricity costs, and benefit from government subsidies. Falling prices for photovoltaic systems and battery storage make this investment particularly attractive in the long term.
