Solar photovoltaic (PV) panels use sunlight to generate electricity that can then be used to power household appliances and lighting.
PV systems can be installed on the roof of a building or a wall facing 90 degrees of South, as long as there are no obstacles to the sunlight such as other buildings or trees. If the PV panels are shadowed most of the day, they will still be producing but less amount of electricity.
There has been significant reduction in the cost of installing a domestic solar energy system over the past few years in UK. In May 2012, the Department of Energy and Climate Change in UK conducted a survey to assess the cost of installing an average domestic PV system of 3kWp rating. According to their findings installation costs vary between installers, suppliers and brands and could be in the region of £7,700.
In April 2010, UK Government introduced the Feed-in Tariff scheme to encourage householders to adopt solar power and install them in their homes. Anyone who generates their own electricity using solar PV panels, Feed-in Tariff scheme provides opportunity to save on energy bills and at the same time earning tax free revenue for 20 years.
The Feed-In-Tariff scheme is a great prospect for everyone to take advantage of. The benefits offset the need for upfront installation costs. Not only that, everyone who is involved contributes towards reducing carbon emissions and less reliance on non-renewable energy sources.
A large of amount of British residents have already joined the trend towards gaining energy efficiency and self-reliance in meeting energy needs. Imagine, producing your own clean energy and earning at the same time.
Earnings
A 2.5kWp system costs around £6,000 to install. The system will return £547 per year and will recover the cost of installation in 10 years. This is a total ROI of 9%.
Generation Tariff: £347 per year
Export Tariff: £49 per year
Electricity Bill Savings: £151 per year
Total Earnings in One Year: £547
Pros
• Only daylight is necessary to generate energy - not sunshine.
• Excess energy produced can be sold back to an electricity company. 40% reduction in average household electricity bills.
• The Feed-in Tariff offers additional income
Cons
• A large roof area is needed to install the panels to generate substantial amounts of energy.
• High initial investment - typically £7,700 for a 3kWp system.
• Efficiency depends on the number of solar light hours and climate in the locality.
• Un-shaded, south-facing location is must for installation.
• Roof of the house where the solar panels are to be installed must be strong enough to withstand the weight of the panels.
With sky rocketing energy prices, there has never been a better time to spend on solar energy. Government is backing it up by offering financial incentives in the shape of Feed-in Tariffs. Once installed, solar panels will supply you energy free of charge. No one can charge you for using the energy provided by the most dominant energy source - the sun.
PV systems can be installed on the roof of a building or a wall facing 90 degrees of South, as long as there are no obstacles to the sunlight such as other buildings or trees. If the PV panels are shadowed most of the day, they will still be producing but less amount of electricity.
There has been significant reduction in the cost of installing a domestic solar energy system over the past few years in UK. In May 2012, the Department of Energy and Climate Change in UK conducted a survey to assess the cost of installing an average domestic PV system of 3kWp rating. According to their findings installation costs vary between installers, suppliers and brands and could be in the region of £7,700.
In April 2010, UK Government introduced the Feed-in Tariff scheme to encourage householders to adopt solar power and install them in their homes. Anyone who generates their own electricity using solar PV panels, Feed-in Tariff scheme provides opportunity to save on energy bills and at the same time earning tax free revenue for 20 years.
The Feed-In-Tariff scheme is a great prospect for everyone to take advantage of. The benefits offset the need for upfront installation costs. Not only that, everyone who is involved contributes towards reducing carbon emissions and less reliance on non-renewable energy sources.
A large of amount of British residents have already joined the trend towards gaining energy efficiency and self-reliance in meeting energy needs. Imagine, producing your own clean energy and earning at the same time.
Earnings
A 2.5kWp system costs around £6,000 to install. The system will return £547 per year and will recover the cost of installation in 10 years. This is a total ROI of 9%.
Generation Tariff: £347 per year
Export Tariff: £49 per year
Electricity Bill Savings: £151 per year
Total Earnings in One Year: £547
Pros
• Only daylight is necessary to generate energy - not sunshine.
• Excess energy produced can be sold back to an electricity company. 40% reduction in average household electricity bills.
• The Feed-in Tariff offers additional income
Cons
• A large roof area is needed to install the panels to generate substantial amounts of energy.
• High initial investment - typically £7,700 for a 3kWp system.
• Efficiency depends on the number of solar light hours and climate in the locality.
• Un-shaded, south-facing location is must for installation.
• Roof of the house where the solar panels are to be installed must be strong enough to withstand the weight of the panels.
With sky rocketing energy prices, there has never been a better time to spend on solar energy. Government is backing it up by offering financial incentives in the shape of Feed-in Tariffs. Once installed, solar panels will supply you energy free of charge. No one can charge you for using the energy provided by the most dominant energy source - the sun.
For more information, read this article on Feed-in Tariff
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You may also be interested in an article on Solar Panels
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