Solar Panels Guide
What are Solar PV Panels?
Solar electricity systems capture the Suns energy using Photovoltaic (PV) cells. The Photovoltaic (PV) cells collect sunlight during the daylight hours and convert it into electricity which can be used to power your home or business.
Key Facts about Solar PV Panels
- Photovoltaic (PV) cells do not require direct sunlight to work.
- Installable on walls or roofs.
- PV panels are available for a variety of installations, from slate colour for flush fitting, to translucent for conservatories.
Benefits
- Reduce your energy bills
- Save up to £200 every year on electricity
- Sell your excess electricity back to the grid at a guaranteed minimum payment
- Cut your Carbon footprint with your own clean renewable energy source
- Increase the value of your home
- Tax free income for guaranteed 25 years
- Financial incentives
What are Feed-in Tarrifs (FIT)?
Introduced in April 2010, Clean Energy Cashback also known as feed-in tarrifs (FIT) encourages people and businesses to install Solar PV panels for a financial incentive. Feed-in tariffs (FIT) are payments made by the Energy companies to anyone who generates their own electricity.
The government backed scheme guarantees a minimum payment for the electricity generated and a minimum payment for the electricity exported back to the grid.
Here's how it works
There are three ways in which you will be able to benefit if you install Solar PV Panels:
- Generation tariff: Introduced in 2010, the generation tariff pays you for each unit or kilowatt hour (kWh) of electricity generated at a fixed payment from your electricity supplier, for a period of 25 years.
- Export tariff: If you do not use the electricity on-site you can export it to the grid. You will get a guaranteed minimum payment (3p/kWh) additional to the generation tariff for every kWh exported to the grid (the 'export tariff').
- On-site use of electricity: You will be able to offset the electricity you use on-site against the electricity you would otherwise have had to buy.
This is a 25 year guaranteed payment from date of installation and is linked to the retail prices index (RPI) to ensure payments increase with inflation.
For more information on how Nationwide Energy Services can help you save money by installing Solar PV panels on your home, send us your details and one of our Solar PV advisors will call you back.