Domestic solar panels provide eligible homeowners with an exciting array of opportunities and advantages. Governmental initiatives, economic trends and the nature of the UK property market all work in favour of those who choose to invest in domestic solar panels and give rise to the following benefits:
Reduced Energy Bills
One of the most obvious upsides to the installation of domestic solar panels is the savings on energy bills as a consequence of using power from home solar panels as opposed to electricity drawn from the grid. Dependent upon the size of the solar panel installation, orientation of the roof and level of sunlight, a home solar panel system is capable of providing at least 50% of the electricity a household uses in a year.
Guaranteed Income for 20 Years +
In order to increase the percentage of power generated by renewable means in the UK, the government introduced the feed-in tariff system or ‘FiT’. This FiT rate is fixed for 20 years from the date of solar panel installation and is currently at a high of 16.0p per kWh for domestic solar panel systems fitted between now and 1st November 2012. Home solar panels installed from July 2012 onwards will be tied into a lower FiT rate forecast at between 16.0p and 7.1p per kWh.
Investing in solar panels for your home will result in tax free income at a rate guaranteed for 20 years – making it a lower risk, higher yield investment than virtually anything else available today.
All installations completed from 1st April 2012 will require an EPC (Energy Performance Certificate) of a D rating or higher in order to claim the feed in tariff (FiT). Solar Choice will complete a FREE assessment of your property in order to determine the rating level. For all customers who do not meet a rating of level D or higher Solar Choice will install FREE cavity wall and loft insulation prior to the solar PV installation being completed to assist in your property meeting this new requirement. Failure to meet the EPC rating D will result in a lower FiT being paid of 7.1p per kWh instead of the current rate of 16.0p per kWh.
Please note that for all domestic installations under 30kWp it is assumed that you will feed 50% of your generated energy back into the national grid. As such, the export tariff of 4.5p per kWh is paid whether you actually feed energy back into the grid or not. This means that all customers who have systems under 30kWp installed at their premises receive the feed in tariff plus half the export tariff, an additional 2.25p per kWh.
Example – 4kWp system is paid 16.0p per kWh plus 2.25p per kWh – Their tariff rate is therefore 18.25p per kWh.
Carbon Footprint Reduction
By opting for a domestic solar panel system you are lowering your reliance upon electricity produced by the combustion of fossil fuels. As the electricity produced by solar panels results in the release of no emissions of any sort; deriving power from a home Solar PV system dramatically reduces your carbon footprint.
Increased House Value
Much like the fitting of a new bathroom or kitchen, home solar panels are a valuable addition to a home which can have a positive impact upon resale value. Provided the solar panels were bought outright by the homeowner and the relevant paperwork filled in – the prospective purchaser stands to benefit from the energy savings and additional income if they buy the house.
If you would like to find out more about any aspect of home solar panels then please don’t hesitate to get in touch with our experienced and friendly team.
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