If you want to save money on your energy bills, while doing your bit to help the environment, then you will want to take a close look at the financial benefits of installing solar Photovoltaics (PV) panels. Due to the Government support for renewable energy under the Green Deal and FIT scheme, the opportunities to cut down on your energy bills are greater than ever before.
How Solar Power Works
In simple terms solar power is the energy which is generated by the sun. Solar panels absorb the electromagnetic radiation which is produced by the Sun’s rays. The circuitry system then transmits the electricity to the home to power it. If there is surplus electricity produced it can be funneled to the main power grid where it can be used by other homes.
No More Electricity Bills
Rising energy bills in the new once again this year. Every year paying to keep the lights on seems to get more expensive. The best way to avoid these costs is of course to be able to produce your own electricity. Having a solar PV system installed allows you to do precisely that. What’s more, you only have to have the system installed once but you can continue to produce electricity for as long as you are in the same home. Its the smartest way to eliminate electricity bills for good.
The Economic Benefits Of The Green Deal And FIT Scheme
The UK government is eager to support the installation of renewable solar panels. As a consequence it offers the Green Deal and the Fit In rates which together can make installing solar panels even more advantageous. In 2010 the British Government introduced the Feed In Tariff (FIT) scheme which was designed to encourage homeowners to install renewable energy systems. With the FIT scheme homeowners who have renewable energy systems installed are paid for the electricity that they produce. Studies show that the average home installed system could earn the owner on average £1,000 in tariffs, which they wouldn’t have to pay tax on.
The Green Deal was launched in 2012 and offers UK homeowners loans of up to £10,000 in order to install energy saving device on their homes. The Green Deal is a great way to asses whether your home would benefit from installing a renewable energy system. If it is you can then use the Green Deal to finance the new system. Once you have installed your solar panels you will be able to receive tariffs through the FIT scheme as well as produce energy for your own home.
Interest In Solar Energy Is Booming
Considering the financial benefits of installing solar panels under the government schemes it is perhaps not surprising that interest is booming. As recently as 2009, there were only a few households in the UK which had solar PV systems installed. Currently there are more than 420,000 homes that have these systems in place. Part of the increase in demand for solar panels is due of course to the government incentives, but another significant reason is because of the falling costs of solar panels. The price for solar panels is approximately half of what it was only two years ago. This means that households that would have once passed on solar panels are now taking a closer look.
Given the incentives on offer by the government, now is a great time to examine the benefits of having solar PV panels installed in your home. Having a renewable energy system installed is not only great for your household budget, it also the best thing for the planet as well. For a free no-obligation chat about how green deal could help to save your household money, contact BASI Heating today.
This post was written by Nick Davison, Nick writes for a number of blogs about environmental issues, and reducing energy consumption around the home.