Solar Photovoltaic (PV) systems (solar panels) are now a very established technology and a leading source of renewable energy. They provide a great way to generate your own energy and therefore become less reliant on fossil fuels. This not only helps the environment but also saves you money on your energy bills, with an additional incentive being paid by the government in the form of the Feed in Tariff.
How do Solar Panels Work?
Solar panels can be installed quickly and easily on the roof of your property and capture energy that is released from the sun. This is converted to electricity which can then be used to power the appliances such as washing machines, ovens and light bulbs in your home.
What are the Benefits of Solar Panels?
Reduced Energy Bills – Solar panels generate electricity that you can use in your own home. This means that you don’t need to buy as much electricity from your energy supplier and therefore benefit from reduced energy bills.
Government Financial Incentive – There is a UK government financial incentive available for individuals who install solar panels at their properties. This is known as the Feed in Tariff (FIT). Feed in tariffs are split into two separate parts.
- Generation Tariff – The generation tariff is paid on all of the electricity that is generated by your solar panels, regardless of who uses it. This means that you will be paid for the electricity that you generate even if you use it to power your own home.
- Export Tariff – The export tariff is payable on energy that you generate but that you do not use within your own home. This is surplus energy that is generated by you then exported to the national grid to be used by others.
The central Feed in Tariff Register is maintained by OFGEM. Find our more about the Feed in Tariff at OFGEM’s website.
Solar Panels are Good for the Environment – Using solar panels to generate your energy means that you are less reliant on large electricity providers and therefore will consume less energy that has been produced in power stations using fossil fuels.
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