One of the major benefits from installing Solar PV is the SAVING on your electricity bills. With recent bill increases and with an earmarked 10% increase per year, there isn’t a better time to invest in solar. Solar PV can save you up to £200* per year. As good as this sounds this isn’t the only financial benefit from installing solar. The government has started an initiative called the Feed-in- Tariff. This Feed-in-tariff or FiT payment as it has become known as is worth 0.14p /kW of electricity you GENERATE. This on a 4Kw system can reach 4 units per hour. This is the main source of financial benefit through installing solar PV. Using the calculations the government has set out, a 4Kw system in Chester facing south will generate around 3000 kWs per year.
The other way to earn is Export. If your installation is a domestic system, then more than likely you be paid for a deemed export. This is usually 50%. This is usually anywhere between £50-£85.
A solar PV system also helps increase the value of your property, meaning you can command a higher price should you ever come to sell it. Figures on exactly how much value is added are dependent on what type and size system you install.
Solar PV systems are made from silicon, a derivative of sand which is widely available and a sustainable resource. It is a ‘fit and forget’ proposition; once you have installed it on your property there is nothing else you need to do. There are no moving parts to the system so the potential for a problem to occur is very small, and other than an occasional clean which should be taken care of by rainwater the only other thing necessary is the inspection and possible replacement of the electrical cabling every 20-25 years.
It’s an investment in sustainable energy that will offer a great return on investment plus real savings over a 20 Year period!