Are solar panels profitable in Israel?

While the system can bring a double-digit return on investment for some, for the hundreds of thousands who own apartments in shared buildings, it is not yet profitable. Over the past few years, it has become more and more popular for homeowners in Israel to set up solar panels on their roofs or in their yards — and for good reason.

How much does it cost to install a solar energy system?

In general, it should cost between sixty and a hundred thousand shekels to install a solar energy system on a residential home, depending on a number of variables, the main one being the size of the system. In order for the project to be cost-effective, it is recommended to set up solar panels in an area of at least 50 square meters.

How do solar panels work in Israel?

Israel only allows on-grid systems, which means חברת החשמל must approve connecting your solar panels to the electric grid in your area. Your electricity bill is calculated by how much electricity you consume and the monthly output from your solar panels. Whats the process to get solar panels on my roof?

How to set up solar panels in Israel?

When setting up solar panels, the first step is contacting a company that installs solar systems. Today in Israel, there are many companies of this type in the growing market, and it is worthwhile to conduct thorough market research and get recommendations from others who have already been through the process.

How much does a solar panel cost?

A solar panel of about 100 square meters costs roughly NIS 70,000 to install and produces an average of 10 kilowatts of energy per hour. Assuming there will be about 1,700 to 1,800 hours of sunlight per year, at the current rate of about half a shekel per kilowatt, solar panels should bring an annual income of NIS 8,000 to 9,000.

How much does a solar water heater cost in Israel?

By contrast, a solar water heater in Israel can cost as little as US$700. Rather than embracing the growing portfolio of technologies available to solve the carbon emissions problem, going all-in on one satisfies the very human need for “magic bullets.”