Reduce your current cost of electricity
Thanks to the Feed-in-Tariff scheme, you can currently earn upto 14.9p per kwh your solar panels produce over the next 20 years AND you can use this electricity for FREE! That’s a win-win!
The money received from electricity generation can go toward paying off the initial cost of installing the solar panels, and you get to save on electricity costs by using the electricity produced by your solar panels.
Not only this – but you will receive an additional 4.64p per kwh for all the electricity that you don’t use that feeds back into the grid.
Protection against Rising Electricity Prices
According to “uswitch.com”, energy prices in the UK have increased by 71% over the last five years. According to “This is Money.co.uk”, the average energy bill has more than doubled since 2004 – from an average of £522 to £1,132 per household. This is an average increase of 11% per annum over 7 years. In July 2011, “British Gas” announced an 18% increase in gas prices and 16% in electricity costs.
If we conservatively estimate that energy prices will continue to increase by approximately 5% per year for the next 25 years, your current cost per kwh of say 10p will be a staggering 34p per kwh in 25 years time! More than 3.5 times the current price!
Becoming your own power source by installing solar panels is a giant leap towards gaining energy independence and freedom from rising electricity prices. You can lower energy costs and reduce your bills immediately when you install solar.
For example, if your solar installation meets 80% of your current electricity needs, only 20% of your electricity requirements will be impacted by future electricity increases.
Every time you switch on your TV, kettle or washing machine – there is a fossil fuel power plant at the other end of the wire generating huge amounts of pollution. These power plant emissions contribute to poor air quality, acid rain, and climate change.
According to Consumerfocus.org.uk, Britain’s fuel mix is made up as follows:
Over 70% of all electricity in the grid is supplied from power plants burning fossil fuels. After natural gas, the biggest power sources are coal and nuclear. Natural gas produces half the greenhouse gas emissions of coal, but it’s a fossil fuel that sooner or later will become scarce.
Nuclear power too has a large carbon price tag. Mining, transporting and enriching uranium require vast amounts of diesel, fuel and water. In the wake of nuclear reactor meltdowns at Three Mile Island, Chernobyl and Fukushima, many people are concerned about the safety of nuclear power plants and have raised serious questions about where and how radioactive nuclear waste will be stored. When it comes to safety, pollution and long term sustainability, there’s no question that renewables are the way to go.
It does take energy and resources to make solar panels but, according to the US Dept of Energy, a solar panel will generate in approximately 3.5 years as much energy as was used to manufacture it. After four years, all the electricity generated by solar panels is effectively carbon-free!