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Solar Panels For Your Home - Costs and Earnings
All across the globe individuals are being hit with rapidly increasing costs of just living. For some, this making it ever harder to make ends meet and any method to cut down on the monthly and yearly outgoings is welcomed with open arms. One area that many individuals are taking a look at may be the investment in alternative energy such as solar panels and solar heating.
The draw of solar electricity is very alluring, thanks to the capability to save a great deal of money, but at the same time, save over one tonne of carbon dioxide emissions each year. So how much do they actually cost? There are a variety of things you need to take into consideration when choosing solar power panels for your house to be able to know whether they will prove to be a good investment.
Kinds of solar energy
There are a variety of kinds of panel, the most typical being photovoltaic and solar heating. The difference is the fact that solar heating is used for directly heating the water supply of the property while using heat from the sun and solar PV uses the sun's energy to create electricity for that residence (or business). We will be concentrating on this second kind of solar energy in this assessment of costs and savings.
PV stands for photovoltaic, and therefore when the sun's rays fall on a solar photovoltaic module, a particular voltage is generated.
Among the foremost disadvantages of solar electricity comes from the pure nature of the power source - because the sun only shines throughout the day, this is the only time that electricity will be produced. Furthermore, electricity cannot be stored - it should be used when it is generated, and therefore when there is no demand for the electricity, it will go down the sink.
Fortunately, in the UK, the Enter Tariff, a scheme created by the government, allows other homeowners attached to the national grid to use the excess electricity produced as well as in reward, owners get a tax free income every year.
Just how much do you need to invest?
Obviously, to buy a installation relies upon the size of your installation, which is determined by a number of things:
? The surface area of roof suitable for solar power use.
? Your energy usage needs.
? Your financial allowance
You benefit from greater affordability on the larger system thanks to economies of scale, but a large system can become very expensive very quickly. The normal solar panel installation on the UK house is approximately 3kWp and can cost around ?8000 - ?10,000 (including VAT at the rate of 5%). Make sure to get quotes from a variety of installers though, because prices can vary quite widely. A 3kWp system could save you around ?70 each year on your household bills and stop around one tonne of carbon dioxide emissions every year.
How much can one earn with the Enter Tariff?
By installing solar panels you are not only doing all of your part for the environment and saving on your electricity bills, however, you may also generate income every year for 25 years, thanks to the government's feed in tariff. The enter tariff was introduced as a way of rewarding homeowners who sell unused electricity back to the national grid, in order that it may be used by other properties. Under the current rate, an average solar power installation would earn the owner around ?600 per year in Enter Tariff payments.
In the event you make the most of 'free solar panels' offers?
Clearly there are lots of advantages to installing solar panels in your home, but what if you can't pay the large energy production? Some companies provide a 'free solar panels' service, which at face value seems very enticing. The issue is that the company takes the enter tariff payments and also you obtain the benefit of cheaper power bills. So, if you cannot pay the energy production, free solar power panels are most likely an excellent accessory for your house. For those who have enough cash to invest on the other hand, it's a far better investment to buy the solar panels yourself and earn a nice tax-free income over the following 25 years.
