What are the benefits of a solar PV installation?

By far the biggest benefit of a solar PV installation is the financial return.

 

This wasn't always the case though, only a few years ago, the most common reasons for installing a solar PV system were either for environmental reasons, or to serve off-grid property where supplying mains electricity was prohibitively expensive.

 

Now though, even with the reduction of government feed-in tariffs, the number one reason for installing a system is still the potential for financial return and a reduction in electricity bills.

 

 

The Solar PV triple benefit!...

Firstly, an electricity meter measures all the electricity that is generated by the system. You can claim your feed-in tariff payments for EVERYTHING that is generated, currently at a rate of 43.3 pence per unit (kWh) generated. (from April 1st the rate changes to 21 pence per unit (kWh).

 

Secondly, the electricity you generate is available for use within your home and this doesn't affect the feed-in tariff payments! Yes that's right, you still get paid for the electricity you generate, even if it is used by you in your own home!

 

Thirdly, if your solar PV system is generating more electricity than your home is consuming, the excess can be exported and sold back to the national grid generating furher income. Currently the export rate is 3 pence per unit (kWh). This is again, on top of the feed-in tariff payment, so effectively you would be getting paid twice for any electricity exported.

 

What's more the feed-in tariff scheme is guranteed in statute for 25 years from the day you have the system installed.

 

All this adds up to the most financially viable and profitable form of renewable energy available.