Despite the Government’s efforts at promoting renewables, there are still millions of homeowners unaware of the savings achievable with solar energy. In general, the UK population is simply in the dark on how much they could expect to save on their total energy bill with solar panels.
And on top of the yearly energy savings, solar panels will add over £5,000 to the value of your home.
As many as 20 million homeowners don’t understand the ins and outs of solar energy, whilst 150,000 believe Britain’s lack of sunshine would make solar panels ineffective. This is a false belief though, as solar panels operate throughout the day and in all weather conditions.
Two million think that there are no savings to be made with solar energy, whilst a whopping six million say energy bill savings will only be between 6% and 10%. In reality though, you can save as much as 50% with solar PV.
According to the Green Energy Company, the average household will see savings and earnings up to £830.47 annually. This is calculated through a number of incentives, including:
- Electricity bill savings: Solar panels are installed onto the roof of your home and capture natural daylight throughout the year. Depending on your current energy bill, you can save between £100 and £300 annually.
- Feed-in tariff scheme: Launched in April 2010, the Government’s feed-in tariff acts as an incentive for homeowners to have solar panels installed. The scheme pays out for every unit of renewable electricity produced at a set rate of 16p/kWh. The Energy Saving Trust (EST) says an earning of close to £600 a year is expected with the tariff.
- Export excess energy: To ensure no clean energy is wasted, you also have the opportunity to sell excess electricity to the National Grid at 4.2p/kWh. Your energy provider must make the payments and the EST believe annual earnings can stretch to £77.
- Cut carbon emissions: It’s not just on the financial side of things that solar panels can help to make a saving either. As you’re using renewable energy rather than grid electricity, you’ll slash home carbon emissions by up to 40 tonnes over the system’s lifetime. This is great for the environment and will help reduce global warming fears.
As it stands, the average household energy bill is over £1,200 annually. As gas and electricity prices are expected to rise even more over the next few years, your bills are only going to increase.
With solar panels you can guarantee your energy future and make savings to your bills for over 25 years. The feed-in tariff will also run for 20 years, helping you to see a 10-15% annual return of investment.
The Green Energy Company’s Managing Director, John Benner, said: “Clearly, people really aren’t fully aware of just how easy it is to save money with solar panels. With energy bills predicted to increase dramatically over the next few years, people need to ensure they are armed with the correct information about how much money they can save as in the vast majority of cases, it’s significantly more than they might think.”
“Solar panels are an effective way of combating rising utility costs and we encourage everyone to investigate their home’s potential today.”
Solar energy offers a route away from the expensive wholesale gas and electricity prices. Solar panels are guaranteed to reduce your bills and you’ll even earn a fixed income for 20 years.
Take advantage of the low solar costs now and secure your energy future. Complete our solar panel quotes form and enjoy all the benefits renewable energy brings to your home.