Get rewarded for installing solar panelsRewarded is obviously a very broad term that will vary from person to person. For some of our customers, the lifestyle choice of making a Solar PV installation to reduce their carbon footprint is enough of a reward in itself. However, there are several financial benefits to installing Solar PV and I will discuss these now.
Feed In TariffsThe Feed in Tariffs (FITs) provide the installation owner with a payment for the clean energy that they generate. There are two parts to this tariff, the generation tariff and the export tariff. Generation tariff – the largest FITs payment comes from the generation tariff. The generation tariffs are tiered based on the size (in kW) of your installation with systems of up to 4kW total installed capacity receiving the highest payment. For every kWh that you generate, you will be paid a generation tariff. Export tariff – A smaller tariff paid for every kWh that you export back to the National Grid. In the majority of cases, the number of kWh that you export will be deemed to be 50% of your total generation as most property electricity meters cannot ‘count’ reverse flows. In order to access the Feed in Tariffs you will need to meet several criteria as follows:
- You must use an MCS registered installer. You must use MCS approved materials (e.g. panels) for the installation.
- You will need to register for the payments with an energy supplier. However, you do not have to receive you FITs from your current energy supplier and as such I recommend registering with a more environmentally conscious supplier such as Good Energy or Ecotricity. They are also very helpful energy suppliers and are worth switching to if you haven’t already.
- You will need an Energy Performance Certificate at grade D or above for your property in order to receive the highest tariff rates.
Reduce your energy bills
Energy prices rise by 37% in three years - The Guardian, 16/11/13The energy that you generate will be fed into your house and will be available to power any lights or appliances that are switched on during generation hours. With small lifestyle changes (e.g. set the dishwasher to work at midday, utilise a slow cooker for your dinner whilst you’re at work) you can achieve substantial savings on your electricity bill. Supplier electricity prices are only going to increase, so try to utilise as much of your home grown energy as you can. Even if you use the electricity that you generate, you will still receive the FIT.