Solar Power will save you money and help the environment!
Posted on 11/05/10, filed under New Members | No CommentsSimon Lovering from Eagle Roofing explains why you should look at Solar Power on your roof.
Simon Lovering from Eagle Roofing has teamed up with local Worthing company, Eco Innovations,to bring renewable energy products to home owners and business in the South of England, starting around Worthing. Here are some thoughts on the subject.
Harnessing the energy of the sun, wind and heat stored in the ground - and either offsetting the cost of your electricity, or selling surplus back to the grid - is something that homeowners in the UK have been considering for a number of years now. On paper it certainly seems an attractive prospect, considering that, at current prices, a homeowner can recover the original investment in solar panels (for instance) after 12 years, thus paving the way for free energy. However, whether this market will have broad appeal, or if it will it remain a niche investment, has remained in the balance - until now.
Despite all the hype surrounding photovoltaics (electricity generated by the sun), solar thermal (water heated by the sun), ground source heat pumps, and wind turbines, investment by UK homeowners in alternative forms of energy production appear to have been limited to the conscientious few. However, I believe that is set to change, and I can point to evidence from Germany to support this.
German invasion
In a single year, German homeowners placed more than 25,000 enquiries through the free lead service offered by Quotatis’s German sister company. The leads were specifically for photovoltaics and heat pumps (which recycle wasted heat from heating and hot water systems).
This phenomenal interest in photovoltaics was driven in a large part by feed-in tariffs (Fits) - which are backed by government legislation. From April 1st this year, British homeowners can benefit from a similar scheme in the UK, which will encourage them to generate their own electricity and profit from it. It also offers home improvement companies the opportunity to sell into a brand new burgeoning market.
For the first time, Fits have been written into law, which means that energy companies are obliged to pay homeowners 41.3p per kilowatt hour (kWh) for the electricity they produce, even if they use it all themselves. This generation tariff is fixed payment which is guaranteed for between 20 and 25 years.
There is then an export tariff which guarantees a minimum payment of 3p per kilowatt hour for any unused energy that is produced, which the electricity supplier is obliged to buy back from the householder. Meanwhile, the homeowner is also benefiting from free electricity.
Photovoltaic (PV) panels will cost an average of £12,500 on the average home. This is offset by a subsidy that can bring a return of around £900 per annum, plus around £140/£150 savings in the electricity consumption for the home. This equates to a payback period of as little as 12 years, after which the homeowner is quids in.
This presents a wonderful opportunity. Companies which invest now in installing alternative energy supplies will benefit as the market picks up in the UK. Seeing how the market exploded in Germany when Fits were introduced there, we know that homeowners are already looking at alternative forms of energy supply to help cut bills.
For more information, call Eco Innovations on 0845 362 8503