Savings Overview
When you own a Photovoltaic solar electricity system, there are several areas where you will make big savings. There are direct savings and further indirect ones which occur as result of producing your own electricity. Savings when you own a PV system will actually mean how much less money it will cost you compared with getting your electricity from a supplier.
Direct savings
- By producing electricity yourself, you will not have to pay an electricity supplier for it.
- The electricity that is produced by the solar electric system is free, whereas the same amount of electricity from a supplier would cost several hundred pounds. This means that you would not have this amount to pay.
- You will be paid for the electricity you produce.
- Any excess electricity that is sent out to the grid will be purchased by the electricity company. One company will instead pay you for the complete output of your system, whether you use the electricity or not.
- You will instantly reduce pollution caused by electricity that is produced at power stations.
- Electricity produced by Solar electricity system is 100% clean, so of course replacing the equivelent amount of dirty electricity you would have previously had to purchase.
In-direct savings
- You will use electricity more efficiently
- As a result of generating your own electricity, you will find that you'll become more aware of electrical consumption in the home, and will look at replacing things you never thought you would need to.
- You'll pay less TAX!
- When you buy your electricity from a supplier, 5% of the electricity bill is VAT. With electricity from the sun you have no VAT to pay on the energy produced by your system.
- The value of your house will increase
- It has been estimated that approximately 9% would be added to the value of your home. After all, the new buyers will be buying a house with a considerably low electric bill.
- Every year will yield greater savings than the previous year
- Due to the cost of electricity rising every year, you will save more money the more the cost of electricity goes up. Also, when the cost of electricity goes up so will the amount you are paid for excess electric.
- Your friends will be jealous of you
- Well, they still have an electric bill, and you have shiny photovoltaic solar panels on your roof...