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.

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.

Are solar panels a good investment?

Together, they will generate 1.6 gigawatts of installed capacity — a tenth of what’s needed to reach the government’s goal of generating 30 percent of electricity from renewables by 2030. Energy Minister Eli Cohen told a press conference in Jerusalem that solar panels promised a return on investment of at least 15% annually over 25 years.

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 long does it take to install solar panels?

According to Dani Waxman, an American-born homeowner in the Nofei Aviv neighborhood of Beit Shemesh, the process between ordering the panels and installing them took a little over three months: “I ordered the panels in mid-November and the installation was completed by the end of February,” he says.