Initially, the cost and price of buying PV solar panels is quite expensive. This is the reason why most people consider this as a form of investment. However, its cost can actually be compensated with the earnings and savings that a household can enjoy from it. These are just among the benefits of installing this kind of technology in a house.
Savings from PV Solar Panels
On the one hand, the primary savings that a household would be able to get from installing this kind of system is the monetary cut on their cost for electricity bills. This is because sunlight is free. After you installed this in your house, the electricity that will be generated from the system would be free. Hence, this will reduce a household’s cost on their electricity bills.
For example, an ordinary system of 3 kWp can produce more than 2,500 kilowatt hours of electricity yearly. This is enough for around 75% of the consumption of an ordinary household. Hence, what this means is that instead of paying £100, for example, to your monthly electric bills, installing these PV solar panels would make you pay for around £25 for your electricity bills from then on.
Earnings and other Benefits
Aside from the fact that you can save a lot from investing on this system, you can even earn some money too. This is possible through your carbon footprint cuts as well as Feed in Tariff scheme.
By using such renewable energy system, it means that you are reducing your carbon dioxide emission compared to what your activities have been producing when you were still using conventional electricity sources. The different is the reduction on your household carbon footprint. For instance, an ordinary household can actually reduce at least a tone of CO2 on annual basis. This can be sold to some markets and you will receive money for that by selling the carbon emission reduction certificate.
Further, if your PV solar panels system is also eligible or qualified for the Feed in Tariff scheme, you can get money and additional earnings by selling the electricity you generate and even sell them back to the grid. The tariff that I was mentioning is the preferential rate that most government implements in order to attract and encourage people to invest on this. It is a kind of rate that the law offers to investors in order to keep them motivated from investing on such technology. Specifically, an ordinary household can surely get at least £540 for every year of operating such system.
This article was written by Enviko.
Earnings And Savings From PV Solar Panels
