Until recently, to invest in solar panels meant that you would have to wait a very long time to see any return, if you saw any at all. Before the feed in tariff was introduced, the only way to “make” money with solar energy was through the savings you made on your electricity bill. Although those are quite substantial, it could still take over twenty years to make this worth the initial investment of having PV cells installed on your roof. Therefore, even people who would have liked to make use of them to do their bit for the environment could not justify the expense financially. After all, solar panels generally have to be replaced after about twenty five years. That has all changed with the introduction of the solar panels though, it now takes less than a decade to pay off the investment, and then you really will be making money from your solar panels.
Feed in Tariff
The reason for this change is the introduction of the Feed in Tariff (FiT) in April last year. It has since been expanded to allow local public bodies, such as local councils, to take advantage of it. There has since been a large increase in the uptake of solar cells as it is no longer just for people committed to changing the way that we produce energy, it is also a good investment for people who are only concerned with making a financial attainment. Of course most people are concerned about both, and are just glad of the opportunity to be able to make use of solar energy.
So what do you have to do to make use of the feed in tariff? You will have to make an application, and there should be no problem with it being accepted. At Solar Energy UK we can help you through the whole process and would be happy to advise on the steps that you have to take if you contact one of our staff. We can also provide you with a free quote as to how much it would cost to have solar panels installed on your property.
How Much Will You Make?
How much you will make by utilizing solar energy will of course depend on how many solar cells you have installed and how good an area you are in for sunlight. There is no need to be concerned if you are not in a particularly sunny part of the UK (you are in good company!), solar cells still work in cloudy conditions as well. If you do happen to live somewhere like Cornwall, however, which receives the most amount of sunlight on average, then your solar panels will create more power.
On average, however, people make about £800 from the feed in tariff annually, and on to that must be added the savings made on your electricity bill. For the first few years, this will all be going towards repaying your investment in the solar panels of course, but after that you will be making profits from it. This means that by the time your solar panels need replacing, you will be able to afford to buy a new set from what you have made from your original PV cells, after which you will still effectively be making pure profits from the solar panels.