Why used Solar Energy
3 Great Reasons to Install Solar energy Panels at your Home
With increased electricity and gas prices becoming the norm, more and more people are looking to alternative energy sources like solar energy panels to save money on their bills. Here are 3 great reasons why you can and should make the switch to solar energy panels for your home’s energy solution.
Decreased Energy Bills
As the years have gone by, you’ve probably noticed your utility bill rising higher and higher every year. Instead of being just a few quid every month, you might be spending hundreds of pounds just to keep the power running. If you’ve had your house for a long time, this will be especially obvious to you. Unfortunately, this isn’t going to get better anytime soon.
Even though it requires an investment up front, by installing solar photovoltaics, you’ll be able to actually earn money every month as you generate electricity. If you have enough electricity generating capacity, you’ll actually generate so much power you’ll get a check in the mail. This is all thanks to the very generous Feed-in Tariff (FIT) which allows people to make cash by making energy.
The Feed-in Tariff basically helps power customers in the UK to install and run micro generation technologies in their homes. Solar energy panels are a technological option available to add to your property. (You can also install wind turbines or hydroelectric plants if that’s more your liking.) Once the generating device is installed, you’re guaranteed to get credit for all electricity generated for at least the next 25 years. If you generate electricity you don’t use, it’ll be sold back to the national grid to benefit other households without solar energy devices installed. It’s an all around good situation for you, the power company and your neighbours.
Some other ways you can use solar technologies in your home is to install a solar water heaters to keep your water hot for free by using solar cells on your roof.
It Pays for Itself Over Time
Even though the cost of installing solar energy panels and other solar energy devices at your home is somewhat expensive at first, you’ll soon find that the energy you generate yourself will pay for itself over time. Let’s look at some numbers to see how quickly your solar energy will start earning you money after paying for itself.
According to the Energy Saving Trust, a typical domestic solar energy system like yours could earn around £800 a year if you have a system with an installation size of 2.2 kWp. Even though the cash back opportunities are currently limited to electricity generating technologies, the Renewable Heat Incentive will shortly allow you to start getting money back for heat generated.
Here are some other savings you could make based on installation cost to give you an idea of what to expect on your investment:
- Solar Photovoltaics: The average cost of installing solar photovoltaics (PV) is between £8,000 and £14,000. If your home is gas-heated, you’ll save around £110 per year on your energy bill. If you have an electric heated home, you’ll save £100 per year. Those savings are in addition to the money you’d earn from the FIT cash back incentives. If you earn the average of £800 per year with the FIT program, you’ll pay for your installation in as little as 10 years.
- Solar thermal: The average installation cost of a solar thermal system is between £3,000 and £5,000, less than half than that of solar PV. The average energy bill savings for gas-heated homes is about £60 per year. The average savings for electric heated homes is £90 per year. The solar thermal way of heating doesn’t qualify for the FIT program, though, so it’d take you about 40 years for the system to pay for itself.
As you can see, using solar energy from solar photovoltaics installed in your home can pay for itself in as little as 10 years. After that 10 year period has passed, you’re actually making money on having the solar panels installed in your home. While the investment isn’t an immediate turnaround, it will pay for itself over time. And with the 25 year promise the FIT program makes for energy cash payments, you’ll have 15 more years of service after paying for your solar energy installation to make money by generating energy.
Using Environmentally-Safe Energy
Finally, another good reason to install solar power energy panels in your home is to start making the change to environmentally safe energy. Fossil fuels are running low, and some experts estimate we’ll run out of fossil fuel supplies in as little as 50 years. This means we need to start looking for renewable, clean energy sources now. By being an early adopter of the solar energy installations for domestic dwellings, you’ll be helping to set societal patterns which will not only benefit you but also benefit your children as well.
By making the switch to solar energy, you’ll be reducing the level of carbon emissions your home produces annually, reducing your carbon footprint. You’re also protecting yourself from future spikes in the price of natural gas and fossil fuels to heat and power your home. If you install solar energy now, in 10 years when the price for gas has skyrocketed, you’ll still be enjoying a warm home in the wintertime when your neighbours are shuffling around in blankets because the gas bill is too high.
Using environmentally safe, renewable energy isn’t just a good financial decision with the money you’ll make with the FIT program, it’s a responsible decision to make as well. Be smart and consider the immediate and long term benefits of switching to solar energy in your home.
By giving you immediately decreased energy bills, paying for itself over time and providing an environmentally responsible option to non-renewable fuel sources, solar thermal power is an accessible and smart way to make a positive difference in society. You’ll actually be generating energy your neighbours can use and that you’ll be paid for. Even if you’re just looking for hot water solutions for your home, using solar water heating systems can save money. You’ll also be protecting yourself from increases in the price of gas in the future. With so many benefits, installing solar energy panels in your home just makes sense. Talk to a professional today to get an estimate of what it would cost for your family to make the switch to solar energy technology.