In today’s world with the ever increasing cost of fossil fuels it is important to be as energy efficient as possible.
Average fuel bills (gas, electricity and oil) are expected to double to £2,000 within 2 years. Heating oil prices alone have increased by 32% in the last 12 months (as at March 2011). As fuel costs increase the payback period for eco energy installations shortens. Investing money in solar PV, for example, gives you a 9% annual return on investment over the next 25 years (by government guarantee) better than most bank accounts.
There are feed-
in tariffs (FIT) and Renewable Heat Incentive (RHI)
- A feed-
in tariff is where you earn money from the electricity you generate and sell back to your energy supplier.
in tariffs are already in place for solar PV panels, as an example, a typical domestic solar electricity system, with an installation size of 2.7 kWp could earn around: £990 per year from the Generation Tariff and £40 per year from the Export Tariff and £140 per year reduction in current electricity bills. This gives a total saving of around £1,170 per year. This assumes 50% of the electricity generated is exported. The figure will vary depending on how much is exported.
- The Renewable Heat Incentive works in a similar way to Feed-
in Tariffs and covers solar thermal panels, heat pumps and wood boilers.
If you are considering installing an eco energy solution please ring us on 01892 270520 and we will answer your questions.