Solar PV: Cost Benefit
A real opportunity
With the introduction of the new Feed in Tariff initiative by the Government, we have a fantastic opportunity to not only utilise this technology, but do so in an affordable way. Not only will those who adopt the technology see a real saving on their electricity bill but also an income from every single unit of electricity generated!
If you are considering investing in solar photovoltaic panels there are many ways of benefiting from the mix of this technology along with the new Feed in Tariffs.
We have listed a selection of the most likely ways to get involved along with a guide to the kind of cost and benefit you might achieve (The important thing to mention is we are MCE so all new installations comply and can be eligible for FITs) :
Domestic Solar PV Installation
An installation on a south facing house roof. This installation would be limited by either your budget or the size of the roof.
A medium sized domestic installation could be 2 kW of solar panels.
This would be 12 panels, each panel being about 1metre by 1.3 metres. The overall price would be about £12,000 and include equipment, installation and connection to the mains.
What is the payback? The FIT will pay 41.3 p per kWh (for retrofit onto existing properties) generated whether you use it or not. Your electricity supplier will pay for any units exported, so energy generated while you are on holiday will still be used and be paid for, and of course, you don't have to pay your electricity company anything for energy that you generate and you use.
( The REA estimates that the proposals published today will mean for example that a 2kW (p) PV (solar electricity) system will generate £702 income per annum. The system will further avoid importing grid electricity leaving to total savings of £831 per annum. After the payback period owners of renewable systems are likely to enjoy substantial savings on their energy bills and income for a further to 10 years with ongoing savings after this period).
Treating this as an investment, the return, which is tax free will be above 7%.
This will also add real value to your house in that it not only has a lower electricity running cost but can make money for the new owner.
To take advantage of this fantastic opportunity, please feel free to call us on 01892 52 63 68.
