Opportunity to earn an extra income of £ 500 per year
An excellent opportunity has arisen for you to earn an extra income of up to £ 500 per year. This will increase year on year for the next 20 years in line with inflation. This comes from a government incentive called the Feed in Tariff which is available for all owners of solar PV. For an initial investment of £ 4,000 – £ 7,000 depending on the size of the system, home-owners can earn 15.44 pence per kilowatt of electricity that their solar panels generate.
This is an excellent opportunity as solar panels operate in daylight hours, little work and maintenance is needed after the initial installation which lasts just one day in most domestic cases.
Are you interested in the environment, reducing your carbon footprint, reducing your electricity bills or just getting a bit more money? This could be the perfect opportunity for you! To be eligible to earn an additional income from the feed in tariff your home must fit the below criteria:
- You must own your own house or property
- Your roof must be able to fit at least 8 solar panels for a 2 kilowatt peek (kWp) system. An expert installer will be able to advise you on the number of panels that will fit on your roof.
- South west – south east facing roof
- Energy performance certificate (EPC) rating of at least a D. Again, an expert installer will be able to advise you if your house can achieve this. Double glazing, efficient boiler, cavity wall and roof insulation all contribute to this assessment.
Perks and benefits:
Solar panel systems will bring a range of benefits to your household, both financially and environmentally, these include:
- Earn an extra income of up to £ 500 each year just for generating renewable energy through the feed in tariff for a 4kWp solar pv system.
- Reduce the financial strain on your by lowering your electricity bills by up to £ 300 annually. This saving will increase as and when electricity companies increase their prices, for example in December, prices increased by as much as 10.08% by EDF, the other “big six” energy companies increased their prices by between 9 – 10%.
- As a bonus, you will also receive up to £ 45.00 annually for exporting your excess electricity to the national grid.
- Help in the fight against global warming while increasing your green credentials with in your neighborhood and amongst your friends.
- Earn 15.44 pence per kilowatt hour of electricity generated. On a 4kWp system, the estimated output is 3,20kWh so you will receive £ 500 each year for generating clean electricity. This accounts for all the electricity that your system generates when you use it or not.
- Receive an extra 4.5p for every kilowatt hour that you export to the national grid, this works out at around £ 45 each year for a 4kWp system.
- Save around £ 300 on your electricity bills by generating your own electricity.
- You will reduce your carbon output by 1,800kgs annually
- Total benefits over 20 years, taking inflatement into account will be £ 33,500 for a 4kWp system, your initial investment will be paid back in just 6 years and you will achieve a 23.86% return on investment through the lifetime of your system (20 years) .
Other similar opportunities
You may also be interested in a similar feed in tariff scheme for wind turbines where you can earn 21 pence per kilowatt hour generated and around £ 2,100 annually on a 6kWp small wind turbine. Or the upcoming Renewable Heat Incentive (RHI) scheme for air source heat pumps, we will update you with more details as they are released.