Types of Solar Panel Grants UK
Around the world governments are trying to encourage their citizens to reduce their carbon footprint by powering their homes and businesses using solar power. Because the cost of buying the equipment to do this is still perceived as quite high most governments offer their citizens money to give them an incentive to install solar power.
Until 2006 solar panel grants in the UK came in the form of a sum of money that covered some of the costs of installing solar power. In 2006, this system of grants was replaced by the feed in tariff scheme that pays you a sum of money for every unit of electricity your system generates and allows you to sell back any excess electric that you generate to the national grid.
Do I Qualify For Solar Panel Grants In The UK?
To qualify for solar panel grants (feed in tariffs) in the UK you must be resident in the UK and own the property on which the system is to be installed. The solar power system you install can be stand alone or roof mounted.
Your system has to be installed by a MCS qualified installer and be made up of MCS certificated components. You also have to install a total generation meter as part of your system.
How Much Money Do I Get From Solar Panel Grants In The UK?
How much you are paid for each kWh of power generated by your solar power system is decided by the energy power provider that you set you use when you install your solar power system. A solar power system that is fitted to a standard 3 bedroom house typically brings in £990 in this way each year.
You are also get paid 3p per kWh of excess electric you generate and feed back into the national grid generating an average of £40 per year of revenue.
This means that solar panel grants in the UK generate an income of £1,030 per year for the owner. Add to that savings of £140 on the cost of electric bills and installing solar panels on your home will save the average owner about £1, 170 per year.
Is Installing Solar Panels In The UK Worthwhile?
On average a solar panel system costs £10,000-£12,000 to install on a family home this means that with the current solar panels grant system in the UK, i.e. the feed in tariff (FIT) system the owner will fully recoup the cost of installing a solar power system within 9-12 years. In the UK solar panel grants make sure it is worthwhile having solar panels installed.
