How can solar save you money?

Solar panels pay back

If you are thinking about investing in a solar system, you will be keen to know the earn-back period for your purchase. With "earn-back period" we mean the number of years it takes to earn back the amount of money you invest in the solar PV installation. You will find more information about the earn-back period of your recommended solar PV system when you receive the personalised offer.

Solar panels have a Power Output Warranty of 25 years, and the system is highly likely to last even longer. From the moment the panels are installed you can save on your energy bill, and earn money for the electricity you put on the National Grid. Solar panels pay for themselves!

Your solar income will be threefold

Start saving on your energy costs

With solar panels you generate your own electricity. If you use this directly in your own home, you will save on your utility bills. In order to maximise the benefits from your solar PV system, you should ideally consume as much electricity as possible during the daytime.

Earn money with the Generation Tariff

You will receive a payment for every kilowatt hour (kWh) of electricity your solar panels generate. This tariff will be valid for 20 years.

Earn money with the Export Tariff

You will receive an extra tariff for all the electricity you generate, but do not use on-site.

An example of the possible earn-back period

Solar system of 16 solar panels
Maximum output 4,400 Watt peak
Generation 4,180 kWh
Total costs £4,531

Earnings & savings Rate per kWh Amount of kWh Income
Savings on energy (45%) 16 p 1,881 kWh £301
Generation Tariff 3.86 p 4,180 kWh £161
Export Tariff (50%) 5.24 p 2,090 kWh £109

*Feed-in Tariff rates are for the period October-December 2018

In this example your investment in a solar system will be paid back in 7.2 years. To calculate this example, we have made assumptions.

Energy Performance Certificate (EPC)

In order to receive payments from your own generated energy your home needs to have an Energy Performance Certificate (EPC). An EPC gives a home an energy efficiency rating from A (most efficient) to G (least efficient). In order to qualify for the highest Feed-in Tariff, you will need an EPC rating of band D or higher before you apply for the Feed-in Tariffs. If you do not yet have an EPC, the supplier can provide you with an additional assessment prior to the survey.