Earn and Save Money with Solar Panels
Earn and Save Money with Solar Panels
Here at Red Elec we are not just your local electricians, we can also advise and help you to save money with your electricity bill, in this article we will be talking about how you can save and even earn money, just by having solar panels fitted onto your roof.
HOW WILL I EARN MONEY?
You’ll be paid a minimum sum for all electricity generated by your system, known as the Feed-In Tariff (Fit). You’ll get approx 14.9p per kilowatt hour (kwh) for each unit of electricity you create.
You get 4.6p for every unit sold back to the Grid. Together, these payments boost your savings because your on-site electricity reduces the bill from your normal supplier.
WHAT SAVINGS ARE THERE?
- About £800 a year, typically. For example, a family of four in a three-bed property who buy a 4kWh solar panel system will earn about £560 a year from their supplier just for generating the solar electricity.
- On top of this, they will then make £90 from selling power back to the National Grid via their energy supplier.
- And finally, they’ll typically knock £150 from their electricity bill by using their own power instead of buying it all from their supplier.
- This works out as approximately £800 of savings in total.
At these rates, you need to be prepared to stay in your current property for a minimum of eight years to make it worthwhile. The key to making big savings is to use as many of your appliances as possible in the daytime when you are generating your own power.
Your installer should show you how everything works and you must register the Feed-In Tariff.
A new meter then shows you how much energy is being generated — and how much you are exporting. If you would like to know more on how you can save money on your next electricity bill, or you would just like to know about the other services that we currently offer, then please don’t hesitate to get into contact with us and a member of our friendly team will be in touch with you shortly.
