If you would like to save money on energy bills, protect yourself from rising energy costs and capitalise on current government financial incentives, then solar photovoltaic panels are an intelligent and eco-friendly investment.
Solar photovoltaic panels harness light to generate free, low-carbon electricity for use in your home, allowing you to significantly reduce your electricity bills and contribute to lowering our collective carbon footprint. In addition to your savings on electricity bills, you can also earn a significant income with the Government’s Feed-in Tariff.
How solar panels can benefit you
Solar photovoltaic panels can significantly reduce your electricity bills, as each unit of electricity that you generate for your own use is a unit less that you will have to import from the grid (or buy from your utility supplier). When your system is producing more electricity than you require, this surplus electricity is exported to the grid (and you are paid for this). You could save about 60% on your annual electricity bills.
Protection from rising energy costs
The Department of Energy and Climate Change anticipates electricity costs to rise by between 26-44% by 2020 for most homeowners - you can protect yourself against rising costs by generating your own free electricity.
Get paid for the electricity you generate
The UK Government's Feed-in Tariff scheme means you will be paid for all of the electricity your solar panels generate. You are paid by your energy supplier and the money you are paid is tax-free (for domestic properties) and linked to the retail price index. The payments are guaranteed for 20 years. The Feed-in Tariff guarantees you an excellent return on your investment, typically of 9% annually when you include your electricity bill savings.
Preserves the environment
The sun is a sustainable energy source. Switching to solar energy helps to reduce pollution, lessen our dependence on finite fuels and reduce your CO2 emissions.
Solar immersion diverters
Incorporating a solar immersion diverter into your installation could help you save even more on your energy bills. These devices divert any surplus electricity your panels have generated to your immersion heater and use it to heat your water. A solar immersion diverter could significantly reduce your hot water bills (and so increase saving on your energy bills) and will not affect your Feed-in Tariff payments.
How solar panels work
Each solar panel is made up of cells, which are constructed from layers of semiconducting materials. When light hits a cell, this creates an electric field across the layers. The stronger the light, the more electricity is produced. The electricity is converted from direct current to alternate current for use in your property by an inverter, a control box which is usually situated in the loft.
Your return on investment
When you invest in solar panels, you guarantee yourself Feed-in Tariff payments for 20 years as well as significantly reduced energy bills. Based on current installation costs, our customers typically earn 9% annual return on their investment. With electricity bills anticipated to rise continuously in the future, you will be always be protected from these fluctuations by generating your own, free energy supply.
Anticipated Annual Income and Savings for a south-facing 4kWp system
These rates will apply to systems installed and registered with a Feed-in Tariff eligible utility provider from 8th February 2016.
Income from generation tariff:
(4.39p per kWh)
Income from export tariff:
(4.85p per kWh)
Annual Savings on Electricity Bills:
(14p per kWh, presumed 60% annual savings on electricity bills)
|Total Annual Benefit:||£543.17|
|Annual Return on Investment:||9.8%|
Anticipated Return on Investment over 20 years for a south-facing 4kWp system
Figures correct as of 1st January 2016 and reflect current energy tariffs and the current Feed-in Tariff rates, based on the anticipated generation levels of a south-facing system with 16 x 250 watt panels (a 4kWp system) and an installation cost of £5,500.
If you are interested in solar photovoltaic panels or require more information, please contact us for a free estimate or a free, no-obligation survey - you can speak to one of our Energy Team, who are trained to offer you the most up-to-date and accurate information.