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Solar power panels For Your Home - Costs and Earnings
All around the world individuals are being hit with rapidly increasing costs of living. For many, this making it ever harder to make payments and any method to reduce the monthly and yearly outgoings is welcomed with open arms. An area that many people are looking at may be the purchase of alternative energy for example solar panels and solar heating.
The draw of solar electricity is quite alluring, thanks to the ability to save a considerable amount of money, but at the same time, save more than one tonne of carbon dioxide emissions every year. Just how much do they actually cost? There are a number of factors you need to consider when choosing solar panels for your house to be able to know whether they will end up being a good investment.
Kinds of solar power
There are a variety of types of panel, the most common being solar PV and solar heating. The main difference is that solar heating is used for directly heating the water way to obtain the home using the heat from the sun and photovoltaic uses solar energy to produce electricity for the residence (or business). We are concentrating on this second kind of solar power in this assessment of costs and savings.
PV means photovoltaic, meaning that when the rays of the sun fall on the solar photovoltaic module, a particular voltage is generated.
One of the foremost disadvantages of solar electricity comes from the pure nature of the power source - because the sun only shines throughout the day, this is the only time that electricity is going to be produced. Furthermore, electricity can't be stored - it must be used when it is generated, meaning that when there is no demand for the electricity, then it goes to waste.
Fortunately, in the united kingdom, the Feed in Tariff, a scheme created by the federal government, allows other homeowners attached to the national grid to use the excess electricity produced as well as in reward, owners get a tax-free income every year.
Just how much must you invest?
Obviously, the cost of an installation is dependent on how big your installation, which is determined by numerous things:
? The surface area of roof suitable for solar power use.
? Your energy usage needs.
? Your budget
You take advantage of greater value for money on the larger system thanks to economies of scale, but a sizable system can become very expensive quickly. The normal solar power installation on the UK house is approximately 3kWp and will cost around ?8000 - ?10,000 (including VAT in the rate of 5%). Make sure to get quotes from the variety of installers though, because prices can vary quite widely. A 3kWp system will save you around ?70 per year in your household bills and stop around one tonne of carbon dioxide emissions every year.
Just how much can one earn with the Enter Tariff?
By installing solar panels you aren't only doing your part for that environment and saving on your power bills, however, you may also generate income every year for 25 years, because of the government's feed in tariff. The enter tariff was introduced as a way of rewarding homeowners who sell unused electricity back to the national grid, in order that it can be used by other properties. Under the current rate, an average solar panel installation would earn the owner around ?600 each year in Enter Tariff payments.
In the event you make the most of 'free solar panels' offers?
Clearly there are many advantages to installing solar panels in your home, but what if you cannot pay the large initial investment? Some companies provide a 'free solar panels' service, which at face value seems very enticing. The catch is that the company takes the enter tariff payments and you obtain the benefit of cheaper power bills. So, if you fail to pay the initial investment, free solar panels are probably a great addition to your house. If you have enough cash to spend on the other hand, it's a far better investment to purchase the solar power panels yourself and earn a nice tax-free income next 25 years.
