The benefits of solar electricity
There are a number of benefits that come with installing a solar PV system, not least of which is being able to earn £560 a year through your bill savings and the Feed-In Tariff.
- Reduce your electricity bills: A typical home PV system can produce around 50 percent of the electricity used by an average household in a year. Because this is free to you, you can save around £140 a year on your bills, more as energy prices rise.
- Cut your carbon footprint: Solar electricity is green, renewable energy and doesn’t release any harmful carbon dioxide (CO2) or other pollutants. A typical home PV system could save around 1 tonne of CO2 per year – that’s around 25 tonnes over its lifetime.
- Money for the electricity you generate: Under the FIT scheme you can be paid a Generation Tariff of 14.90p/kWh, which adds up to a payment of around £370 a year for the average household.
- Sell electricity back to the Grid: If your system is producing more electricity than you need, or when you can’t use it, you can sell it back to the Grid and make 4.64p/kWh, paying the average home £50 a year. Find out more about the Feed-in-Tariff here.
- A safe investment: The Government have guaranteed the Feed-In Tariff for 20 years and your tariff rate is fixed when you sign up. It is also index linked so that it retains its value
What to do next?
- Are solar PV systems a lot cheaper now?
- The cost of the PV cells and associated equipment is driven by international supply and demand. Prices of these components have fallen substantially over the past few years as larger manufacturing facilities have been set up in response to strong demand particularly in Germany and Japan. Installation prices have in turn fallen as a result of the reduction in system prices and as the industry has grown. This drop in prices is set to continue.
- Is there an approvals standard for solar PV panels?
- Yes, solar panels can be approved by the Microgeneration Certification Scheme (MCS). In order to qualify for the Feed-In Tariff scheme you must ensure that you use MCS approved panels.
- How long does a solar PV panel installation take?
- A solar PV installation normally takes 2-3 days.
- How much do the solar PV panels weigh?
- Solar PV panels typically weigh about 13kg per m2.
- Will solar PV panels affect my home's rateable value?
- Council tax is based on the 1991 values and the government shelved plans to revalue all houses a few years ago, so currently, no. It is likely that there will be a revaluation in the not so distant future. When they do, the value of the solar panels will be included in the valuation, but the rating could also account for your home's the Energy Performance Certificate (EPC) which should reduce tax as you would have a lower EPC score.
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