You’ll be paid a minimum sum for all electricity generated by your system, known as the Feed-In Tariff (Fit). You’ll currently get 14.9p per kilowatt hour (kwh) for each unit of electricity you create.
You get 4.6p for every unit sold back to the Grid. Together, these payments boost your savings because your on-site electricity reduces the bill from your normal supplier.
Sign up now and this tariff will be frozen for 20 years — and rises with inflation. The Energy Saving Trust estimates half of all the power created by homes with solar panels is sold back to the Grid.
WHAT SAVINGS ARE THERE?
About £800 a year, typically. For example, a family of four in a three-bed property who buy a 4kWh solar panel system will earn about £560 a year from their supplier just for generating the solar electricity.
On top of this, they will then make £90 from selling power back to the National Grid via their energy supplier.
And finally, they’ll typically knock £150 from their electricity bill by using their own power instead of buying it all from their supplier.
This works out as approximately £800 of savings in total.
To find out what kind of savings you could make, use the solar energy calculator on the Energy Saving trust website.
At these rates, you need to be prepared to stay in your current property for a minimum of eight years to make it worthwhile. The key to making big savings is to use as many of your appliances as possible in the daytime when you are generating your own power.
Your installer should show you how everything works and you must register the Feed-In Tariff.
A new meter then shows you how much energy is being generated — and how much you are exporting.
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