Solar panels pay backIf 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 costsWith 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 TariffYou 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 TariffYou 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|
|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.