Save Money With Solar Energy

February 29, 2012 by Liam Raikes  
Filed under Family

While it is possible to save, and even make money with solar energy, this is a long way from being a get rich quick scheme. You have to be prepared to play the long game and wait for returns on your investment. If you are prepared to do that though then you can make a lot of money.

Save Money On Energy Bills

How much money you will be able to save is going to come down to the sort of system that is installed. You can either get PV solar panels or a solar thermal system, and in terms of savings every year you will be able to get over 100 with solar panels for your home.

As time goes by though you are probably going to see more and more savings, for the simple reason that conventional energy prices are predicted to carry on rising. Even as you produce the same amount of free energy, it will actually become more valuable and save you more.

Feed In Tariff

The feed in tariff is a government scheme which pays out for every unit of energy produced from your solar system. This scheme specifically applies to renewable electricity production, and it is in addition to the savings you’ll naturally be making as described above.

You will automatically qualify for this scheme if you use MCS accredited solar installers for the solar installation. Once the system has been set up it will take care of itself, monitoring how much energy you’re producing and paying you for every kilowatt hour of it.

This is a scheme that is guaranteed for 25 years, but solar cells add a significant amount to the value of your house so if you move before that time is up you will still be getting a financial benefit. It’s not possible to calculate precisely how much money would be generated of course, as it depends on the size and type of system. On average though it amounts to one thousand pounds a year.

Renewable Heat Incentives

You will be able to make use of the renewable heat incentive when it becomes available in 2011 for non-domestic users, and if you want it for your residence you’ll be able to use it from 2012. As with the feed in tariff, you’ll be paid for every unit of energy produced by the system.

In this case though, instead of electrical energy it will be heat energy. This is what applies to the solar thermal systems then, which heat your hot water.

Again, precisely how much you will get every year is impossible to say, and it might not be quite so much as you would get with a PV solar system but the installation costs should also be lower. The percentage return you will get is likely to be similar though.

What’s So Important About Renewable Energy?

Moving away from the personal financial gains for a moment, there is a wider societal importance to renewable energy. This comes in two areas, the environment and economic advantages.

By now everyone will have heard of the advantages to the environment in using renewable energy. It’s important in this respect because for every unit of energy produced cleanly, that is a unit of energy that does not have to be produced by burning fossil fuels. The reason that’s important is because through that’s how carbon dioxide is released, causing global warming.

While the survival of the environment is at stake, it is just as important for economic reasons because the economy is also at stake. Non-renewable energy forms will inevitably run out one day, so if we’re not using another form of energy to run the economy by that time it will completely collapse.

So it is very important that everyone that is able to gets involved with renewable energy sources like solar power, and there is an added bonus now for those that do as they will get a significant financial advantage.

You could obtain a free quote regarding solar panel installations for your home from the website Jonathan Raikes frequently writes articles at, Solar Energy UK.

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