On 1st April 2010 the government attempted to incentivise home owners to go green by paying them to produce their own electricity. The government introduced two tariffs which provide revenue in different ways.
Feed-in Tariff: Earns a fixed income for every kilo-watt hour of energy you generate with your renewable energy system. Read more about Feed-in Tariffs »
Export Tariff: Earns you income for every kilo-watt hour of energy you generate and sell back to the grid. Read more about Export Tariffs »
How much do Solar Panels cost?
As the technology used within the Solar Panels improves the efficiency of the panels is increasing and the cost of the panels is reducing therefore making Solar installations even more cost effective.
Solar Panels cost approximately £2,500 to £3,500 per kW to purchase and install with the average home requiring at least 2 kW system for all their energy needs.
Average Revenue from Solar Installations
With the above tariffs in mind an average 3/4 bedroom house with a 2.5kW Solar PV system and normal electricity usage would earn over £850 per year tax free!
Add the £850 which was made from the system to a estimated saving of £145 on your electricity bill and you are looking at a saving of over £1,000 every year.