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Solar power panels For Your Home - Costs and Earnings

All around the world people are being hit with rapidly increasing costs of just living. For many, this which makes it ever harder to make ends meet and any way to cut down on the monthly and yearly outgoings is welcomed with open arms. One area that many individuals are looking at is the purchase of alternative energy for example solar panels and solar heating.

The draw of solar electricity is quite alluring, because of the ability to save a great deal of money, but at the same time, save over one tonne of co2 emissions every year. Just how much will they actually cost? There are a number of factors that you need to consider when choosing solar power panels for your home to be able to know whether they will end up being a good investment.

Kinds of solar energy

There are a variety of kinds of panel, the most typical being photovoltaic and solar heating. The difference is that solar heating is used for directly heating water supply of the property while using heat from the sun and solar PV uses solar energy to produce electricity for that residence (or business). We will be focusing on this second kind of solar power within this assessment of costs and savings.

PV means photovoltaic, and therefore when the rays of the sun fall on a solar photovoltaic module, a particular voltage is generated.

solar power

One of the foremost disadvantages of solar electricity comes from the pure nature from the source of energy - because the sun only shines during the day, this is the only time that electricity is going to be produced. Furthermore, electricity can't be stored - it must be used when it's generated, meaning that when there is no interest in the electricity, then it goes to waste.

Fortunately, in the UK, the Enter Tariff, a scheme introduced by the government, allows other homeowners connected to the national grid to make use of the surplus electricity produced and in reward, owners receive a tax-free income every year.

How much do you need to invest?

Obviously, the cost of an installation relies upon how big your installation, which itself is determined by numerous things:

? The top area of roof ideal for solar power use.

? Your energy usage needs.

? Your financial allowance

You benefit from greater affordability on the larger system because of economies of scale, but a sizable system may become very costly very quickly. The normal solar panel installation on a UK house is approximately 3kWp and can cost around ?8000 - ?10,000 (including VAT at the rate of 5%). Be sure to get quotes from a variety of installers though, because prices can vary quite widely. A 3kWp system will save you around ?70 per year on your household bills and prevent around one tonne of carbon dioxide emissions each year.

How much can one earn through the Enter Tariff?

By installing solar power panels you aren't only doing all of your part for the environment and saving in your power bills, but you may also earn an income each year for 25 years, thanks to the government's enter tariff. The feed in tariff was introduced as a means of rewarding homeowners who sell unused electricity back onto the national grid, so that it may be used by other properties. Under the current rate, an average solar power installation would earn the owner around ?600 per year in Feed in Tariff payments.

In the event you take advantage of 'free solar panels' offers?

Clearly there are many advantages to installing solar panels on your home, but what if you can't afford the large initial investment? Some companies offer a 'free solar panels' service, which at face value seems very enticing. The issue is that the company takes the feed in tariff payments and also you get the advantage of cheaper electricity bills. So, if you cannot afford the energy production, free solar power panels are probably a great addition to your home. For those who have enough cash to spend however, it's a far better investment to buy the solar power panels yourself and earn a pleasant tax-free income next Two-and-a-half decades.