As Preston’s leading solar power experts, here at the Eco Renewables Group, we know just how beneficial domestic solar panels can be. But saving energy and the environment isn’t top of everyone’s agenda, so lets take a look at how solar panels can help you save money. From the size of your solar panels to solar panel installation, here at the Eco Renewables Group we have you covered. So this is our guide to saving money with solar panels.
Installing solar panels to save money might seem a bit of a crazy suggestion. After all, you do need to pay for solar panels in the first instance, and to have them installed. However, after this initial payment, solar panels can last more than 20 years, and do not require regular maintenance. And when you compare this with the electricity savings you can make, it seems a no-brainer.
By using energy directly from the sun, solar panels installed on your roof can allow you to generate your own electricity. The more electricity you can generate, the less electricity you need to use from your energy supplier. As a result, this can drastically reduce the amount of electricity you need to pay for. In fact, this can be up to or around the 50% mark if you have a 4 kW system fitted. And with electricity prices set to have increased by 50% by 2019, you could be saving even more.
Additionally, if saving money doesn’t seem like enough of an incentive, why not think about making money. There are two ways to make money using solar panels, through the Government’s Feed-in Tariff.
In the first option, the Government will pay you for all of the energy produced. This means that even the electricity you use throughout your home, you will be paid for. The rate is just over 4 pence per kW produced, which means that a family home, with a 4 kW solar power system fitted, could stand to make up to £300 a year!
The second option allows you to sell back any excess electricity that you generate, but do not use. This electricity goes straight back to the national grid, and you earn 5 pence per kWh that your export back. This means you could stand to earn an additional £60 a year from electricity you dont even use.
For more information, or for professional advice about installing a solar power system in your home, get in touch with the experts today, here at the Eco Renewables Group.