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You could also earn an income for generating your own renewable energy through the governments feed in tariff scheme. You could earn up to 600* per year. Find out how much you could earn.
*Based on a 16 panel Sun Power 5.33kw system, south facing with a 35 pitch, located in the Midlands, with a KK of 935 and an electricity bill of 58.13 per month with a 15.57p per KW hour cost from the grid. This figure may be significantly higher depending on the future rate of inflation and changes in electricity prices. Please note you do still have to pay for your solar system. Savings based on manufacturers test data. No allowances have been made if you need to replace the product during it s lifetime. Savings can go up or down and will depend on the individuals usage. These figures are for illustration purposes only only and do not include the initial outlay or any credit charges for your system.
We have used the following averages to estimate the future cost of electricity. The sources for the figures used is The Office For National Statistics:
About the Office for National Statistics (ONS)
The Office for National Statistics (ONS) is the UK’s largest independent producer of official statistics and is the recognised national statistical institute for the UK. It is responsible for collecting and publishing statistics related to the economy, population and society at national, regional and local levels. It also conducts the census in England and Wales every ten years. ONS plays a leading role in national and international good practice in the production of official statistics. It is the executive office of the UK Statistics Authority and although they are separate, they are still closely related. We use the ONS, they are totally impartial and give us the best opportunity to get our forecasts and predictions about what we think the likely hood of key revenue drivers like inflation and the unit cost of electricity will be based on the evidence of the past. This is how we work out all our saving and earning against your solar PV system and any money and energy saving additions that you may purchase. In calculating the returns in the table above certain assumptions have been made about the increase in electricity prices and the rate of growth in the Consumer Price Indices. We have averaged both for the 10 year period 2006 to 2015 and applied this rate going forward. In reality the return may be higher or lower depending on the actual growth.
The Feed-In-Tariff and Export Tariff are open to all qualifying homeowners
‘Solar power in the UK
almost doubled in 2016 ‘
Source: Department of Energy Climate Change