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How to save with solar energy

Homeowners save lots in electricity bills every year by installing solar panels to generate solar energy. If you are not sure about the benefits of solar panels because you don’t live in California or some other country that enjoys plenty of sunshine, you need to know that solar panels don’t need sunshine to work. They need daylight, which is present even in gloomy days, to generate electricity and save you money

Electricity bill savings

It is predicted that energy prices will rise sharply over the next 25 years. Homeowners with installed solar panels save £90 to £180 annually in electricity bills, according to the Energy Saving Trust (EST). This amount is saved by utilising solar energy at home and is expected to increase over time as energy costs continue to rise.

Of course, you can save more on electricity bills by regulating other factors such as how electricity is used at home. However, solar panels can produce 50% of a typical home's electricity needs from freely and readily available solar energy in the environment. This effectively means that solar energy can be the single most effective energy and money saving investment you can put in place in your home or business premise.

Feed-in tariff payments

In 2010 the UK government abandoned issuing grants for solar panels and put in place a scheme that pays for all the solar energy produced at home even if it is produced for personal use. The amount earned through this scheme depends on the solar energy production size. Initially, you could earn more than £1,000 per year for 25 years under this scheme by installing panels worth £10,000.

However, in October 2011 the government announced it would reduce the amount you can earn for producing solar energy at home by almost half for all persons who installed and registered their panels after 12 December 2011. A typical payment under the new tariff could be £550 year per, although earlier applicants retain the old tariffs rates for 25 years.

Lock in on the feed-in tariff payments

In addition to saving on electricity bills, solar energy systems give you the opportunity to tap into the government’s electricity production scheme and earn recurring feed-in tariff payments for 25 years. Lock in on the tariff payments by registering the Microgeneration Certification Scheme (MCS) certificate issued once a solar system is running with your energy supplier. Remember to also enjoy contributing to reduction of the carbon footprint from homes without incurring extra costs in the process with your installed solar system.

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