We all know that renewable energy is good for the environment, but did you know that it can be good for your wallet too? Not only will you save on energy bills, but a range of incentives means that homeowners are paid by the government for renewable energy produced on their property or for investing in renewable energy heating systems. Want to find out how much you can earn? Read our blog to find out more.
1. Generation Tariff
A supplier will pay you for electricity generated by solar panels on your home – even if you choose to use all of it yourself! The going rate for approved solar panels, and at Complete Renewables we are always happy to check eligibility, is 14.9p per kilowatt-hour, which averages out to £540 per year on a typical system, according to Money Saving Expert. Nice!
2. Export Tariff
Just when you thought it couldn’t get any better, there’s a bonus 4.6p for every kilowatt-hour that you don’t use – or ‘export’ back into the grid. Under the current system, most energy suppliers don’t bother to fit you with an export/import meter to calculate exactly how much you export back into the grid. Instead they assume that you export 50% of the energy your solar panels produce – meaning additional bonus savings of £90 per year on average, even if you use all the energy for yourself.
3. Energy Bills
It’s no secret that energy bills are predicted to rise massively over the next twenty years, as we continue to rely on ever-dwindling stocks of fossil fuels. However, this means that for those who invest in solar panels, savings will rise massively too! The Energy Saving Trust estimates that the current rate of saving for a typical family is £125 per year – good now, and it’s only going to get better.
4. Complete Renewables’s Summer Sale!
We are currently offering PV Solar Panels for under £6,000 to some customers in our summer sale, meaning that now is a great time to invest in solar panels. Our typical 4 Kilowatt system will earn you a profit of £1,600 in your first ten years, and an incredible £7,600 in the second ten years! This represents a healthy 14% investment, which is good for both the planet and for your finances.
5. Renewable Heat Incentive
The savings and incentives don’t end with solar panels. The Renewable Heat Incentive (RHI) is the world’s first long-term financial support programme for renewable heat. The government will pay you between £600 and a massive £2,300 to invest in a renewable heat source, including solar heating system and ground source pumps.
Solar thermal heating nets you £600 with the RHI, in addition to providing a family of four with up to 65% of their hot water needs, according to STA. If
you are a household of two, no need to panic, we can fit you with just one solar thermal panel, which provides you with free solar heated water for 70% of your hot water needs.
Interested in Saving Money and the Planet Yet?
How often do you get a chance to both make money and help the planet both at the same time? Renewable energy is a win-win move, so contact Complete Renewables today and see how much you could save!