solar pv

Do Solar Panels Work?

Solar Panels

With an increasing number of properties now having solar panels installed, you are probably wondering “Do solar panels really work?”.

The average annual household electricity bill is £600, yet with a solar photovoltaic installation this can be reduced by as much as 80%.

According to a recent Ofgem electricity and gas market report, energy prices have increased by as much as 32% over the past 5 years and this is predicted to continue.

Solar PV panels can help significantly reduce the amount of ‘grid energy’ required by your home, safeguarding you against future price increases.

In 2010 the UK government introduced the Feed-in Tariff scheme (FIT) which means you receive a payment from your electricity supplier for every unit of electricity you generate from your solar panels whether you use it or not.

By installing Energy Gain UK’s Solar PV Panels you can generate a guaranteed index-linked income for the next 20 years and get paid for every unit of electricity you generate whether you use it or not. Payments will rise in line with inflation and are totally tax-free.

A typical 4KWp domestic system can return as much as £18,000.00 profit over 20 years. Compare that with the average ISA rates of less than 2.75% then it really does make sound financial sense.

Plus, you can earn extra income for electricity you don’t use

The Export Tariff provides you with an additional payment from your electricity provider for any additional units of electricity generated and not used within your home. As most solar PV installations produce additional unused energy this generates a good additional source of income for homeowners using solar PV technology.

There has never been a better time to install solar photovoltaic panels.

The cost of installation has been steadily decreasing over the last few years, whilst advances in technology means that efficiency has increased.

So what are your options and costs?

Option 1 is to do nothing – you will then pay approximately £35,000 over 20 years for your electricity.

Option 2 is to purchase a 16 panel solar photovoltaic system. With costs starting at £6,000 you will receive a return on your investment of approximately £18,000 over 20 years. Compare that with average ISA rate of less than 2.75% and it really does make sound financial sense.

Option 3 is to install a fully-financed solar photovoltaic system. With no initial outlay costs you get a system that can cover the majority of the finance cost and generates an income of up to £16,500 over 20 years.

 

Do Solar Panels Work? 

Yes, installing solar PV panels really do help to reduce energy costs and generate an additional income.

At Energy Gain UK we offer a free, no obligation energy reduction survey that will highlight where you can make energy savings and generate an additional income. Register now to book your appointment.