How much can you earn and save money from Solar Power

How much can you earn and save money from Solar Power

Renewable energy sources can not only help you to cut your own carbon footprint but they can provide an added income to your household. Installing solar PV panels can help you to both save and earn money in numerous ways, some of which are shown below:

1. Feed In Tariff

The feed in tariff is a government incentive scheme that not only pays homes owners for the energy that they generate from solar panels and use themselves but also pays for any excess energy that is exported to the national grid. This means that not only are you reducing your own energy bills as you will be purchasing less energy from the national grid, it is said that some home owners can produce up to 90% of their year round energy requirements, at times you could be producing excess that is then sold back to the grid.

2. Tax Free

The income made from the feed in tariff scheme is non-taxable and will increase in line with inflation. It is not often you can make an income and not be taxed that's for sure. An earning of 1,200 would be worth 480 more than the same income for someone who is a 40%rate tax payer, a hugely better investment.

3. Guaranteed

Your income from the feed in tariff scheme is guaranteed for 25years from date of installation and signing up to the scheme. Meaning that the price the incentive agrees to pay you when you sign up to generate you own electricity will be held for this period, and the sooner you sign up the more you get paid per unit.

4. Protection

Becoming somewhat self sufficient in your energy production will protect you from possible increasing prices in future. As fossil fuels decrease the cost will inevitably increase, and it is not like we haven't already experienced huge rises in the past. Therefore by installing your own source of energy you can not only earn money to pay for the initial investment over time but you can be prepared for future price increases, and avoid them.

So with the plethora of money making and saving benefits that have been indicated above from installing solar panels, now seems as good a time as any, if not better, to invest in pv solar panels to make your home not only greener but more economical, as they say make your home work for you!

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