Financial

Solar PV generates financial benefits in more ways than one: 

 

Energy Saving

All the energy the installation generates is first used to power loads on site. Therefore, every unit of energy generated and used is one unit less to buy. When you consider that the average price of domestic electricity has risen by around 79% between 2004 and 2011 and is currently rising at over 6%pa its easy to see how future savings are only likely to increase over time.  So as energy prices rise, so will the savings you will be making.

If you have an immersion tank, nearly all energy produced on site can be utilized by directing any excess into heating your hot water for use long after the sun has set and your PV has shut down for the day. For more information on this, follow our link to Turbo Charging your PV.

If you have plans to buy an electgric or hybrid vehicle, charging it during daylight hours with a smart charger that monitors PV production will do much the same thing. Trials are already under way using Nissan Leaf cars with 30kW batteries where some of the charge built up during the day can be discharged into the house to reduce energy bills from night time use while still leaving the car with enough charge for normal day to day activity.

Energy Export (non-commercial)

Any excess energy generated that is not used on site is automatically exported for the rest of the local electricity network to benefit from.  Under the proposed Smart Energy Guarantee (SEG) the exported energy will be metered and the producer will be paid a variable amount.

Energy Shortfall –

World population is growing faster than ever before and so are our demands upon energy. From 2014, several older coal and nuclear power stations are due to close creating a serious gap between the amount of electricity the UK will want to use and the amount that it will be able to produce. The UK has already exceeded the peak of production attainable from North Sea oil and gas and already gets a significant amount of power from France and Russia with all the political uncertainties that brings. The promotion of renewable energy will help plug this gap and reduce the threat of black-outs that could pose a significant risk to businesses and cost billions of pounds.