To encourage people to invest in green technology, the government introduced the Feed-in Tariff (FiT) initiative in April 2010, FiT rates are available for a range of different types of renewable technologies, but customers installing a solar PV system to an existing domestic property are awarded the highest rates.
1. Get paid for generating your own power
Become a micro-generator and you’ll get paid for every unit of power you produce. Whether you use it or not.
2. Cut your electricity bills
As you are now generating power yourself, you can expect to half your electricity bills each year.
3. Export electricity back to the Grid
Once you’re generating electricity, you might not use all of it. Any surplus you don’t use or need is sold back to your utility company earning you a further 3.1p/kWh. So even when you’re on holiday or at work, your solar PV system is working hard, earning you money. (This figure is often estimated by your electricty provider)
4. Cut your carbon footprint
Solar electricity is entirely renewable. Once your system is installed, it releases no carbon dioxide (CO2) or other pollutants. It also reduces your reliance on fossil fuels. In fact, your home PV system could save around one ton of CO2 per year.
5. Solar PV can be an investment
The government guarantees your Feed-in Tariff payments for 25 years. So your solar PV system could generate a better rate of return than a bank account or ISA.
5 main factors affect the amount of energy a PV system can generate:
To see how you can benefit from a solar PV system, give us a call or email us.
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