Solar Electricity Panels (PV)- Cost Benefit
Solar photovoltaic panels are a fantastic opportunity to not only utilise this technology, but to do so in an affordable way. Not only will those who adopt the technology see a real saving on their electricity bill but also an income from every single unit of electricity generated!
A typical medium sized domestic installation could be 2 kW of solar panels.This would be approximately 12 panels with an average size of 1 x 1.3 meters. Solar electricity systems can cost in the region of £4,000 to £5,000 per kWp installed.
However the Feed in tariff (FIT) will pay 41.3 p per kWh (for retrofit onto existing properties) generated whether you use it or not. Your electricity supplier will pay for any units exported, so energy generated while you are on holiday will still be used and be paid for, and of course, you don't have to pay your electricity company anything for energy that you generate and you use. Treating this as an investment, the return, which is tax free will be above 7%.
This will also add real value to your house in that it not only has a lower electricity running cost but can make money for the new owner.
The chart above illustrates a typical seasonal spread of energy generation for a 2.2 kWp South facing system.
Benefits of a Solar PV system
Earn an income for every unit of electricity generated, through the Feed-in Tariff
Save money on energy bills
Increase the value of your property