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Should I install solar panels to my roof?

A typical UK solar panel system costs around PS4,800. It typically includes 12 panels with a 330 Watt peak (Wp) and is usually priced at about PS4,800. Solar Together, however, will be able to reduce this cost by group-buying.

While most people are aware that solar panels can help you save money on your energy bills and generate income, not many realize that you can also make money with them.

An incentive has been offered to energy suppliers that you will be compensated for electricity you have pumped back into the national grid.

Before you make an informed decision, let us verify that the numbers are correct.

First, you need to know what plan is in place for you to recoup your expenses.
You can get solar panel payments for excess energy that you produce and export.

Anyone considering installing solar panels should be aware that the government has announced a program that will reimburse those who install them.

It’s called the Smart Export Guarantee (SEG) and compensates solar panel owners for excess electricity they ‘export. SEG replaces the feed in-tariff (FIT), which was closed in 2019.

This is basically electricity you produce but don’t consume. It is then re-injected into the national electric grid.

You’ll save money on your electricity bills because you will be generating your own electricity rather than relying upon imported electricity.

The plan requires selected energy suppliers to offer ‘tariffs’, which are fixed rates per kilowatt hour (kWh) of electricity that you export.

You can shop around to find the best deals.

You can save hundreds of pounds per annum and still see a return on your investment within 10 to 15 years depending on your particular circumstances.
How much money can I make by installing a solar system?

The time it takes to realize a full return on your investment will depend on where you live and how much electricity you use. To calculate the return on your investment (ROI), you should determine how much electricity you use each month and year.

A 4kW home will take between 15 and 26 years to pay back the initial investment. A person who is home half the day and uses moderate amounts of electricity would have a self-consumption rate 27%, which would translate into approximately 1,000 kWh annually.

Two primary ways to recover your investment in solar panel panels are:
1. Solar panel installation can save you electricity

To reduce your electricity costs, you can first and foremost use the electricity produced by your panels.

The Energy Saving Trust estimates that a four-kWp system can save you between PS90 to PS240 annually on your energy bills. kWp stands for Kilowatt Peak, which is the measurement of panel power.

The size of your system, the amount of electricity consumed, the time you are at home, as well as other factors, will determine how much money you can save.

By using more of the energy generated by the panels, you will save more money. You won’t need to import as much electricity from the grid. A battery can be installed to store excess electricity and can be used during the night to increase your energy independence.
2. SEG Tariffs

This is money given to the solar panel owner in England, Scotland, and Wales for solar-panel-generated electricity that is exported.

The excess electricity is then exported to the national grid where it can be used by other people and businesses.

The price you pay will vary depending on which supplier you choose. It can range from 1p per Kilowatt to as high as 7.5p per Kilowatt.

Solar Energy UK is the largest trade group for the best solar panel companies Kent and offers a league table with the highest-paying tariffs to help you decide what you can get.

Either download or complete the online application form and send it back to your energy supplier via email or post.

Your MCS (Microgeneration Certification Scheme), certificate, and current meter readings of the electricity that you are exporting will be required.

Smart meters can record your electricity exports every half hour. You can request an export meter for a traditional meter by calling your energy supplier.

How much does it cost for a smart meter to be installed in your home

Energy supplying companies provide smart meters at no cost upon request.

As part of your monthly energy bills, you will continue to pay for the meter and a maintenance fee.
How do I qualify for an SEG Tariff

You must meet certain criteria before you are eligible for SEG payments.

Have solar panels that have a maximum capacity of 5 megawatts.
Install a meter to track the amount of solar electricity exported by your setup. The meter should automatically update the supplier every 30 minutes.
Get your solar panel system certified by the Microgeneration Certification Scheme.

What should I do if I receive Feed-In Tariff payments?

You will still receive your feed-in-tariff payments (FIT) if you are already receiving them. New applicants are not allowed to apply for the scheme. Depending on the date your panels were certified and placed, you will be able to collect payments for at most 20 years.

The warranty will be extended to 25-years if installed and certified prior to August 31, 2012.
It will last for 20 years if it is installed and certified between September 1, 2012 and March 31, 2019.

Contrary to SEG contracts and FIT contracts for households, FIT contracts are paid in two types. One is for every kWh of solar power you produce and another one for every unit of solar electricity you export to the national grid.
Can solar panel systems make my meter run backwards?

You may notice that your electricity meters start to go backwards after installing solar panels. This is because the energy you don’t consume is being exported to the grid.

Analogue meters may not have a built in backstop to stop them from winding in an incorrect direction.

You should immediately contact your energy provider to exchange the meter.