Reduce your electric bill
Without having to do anything at all, the first saving you will notice on your electric bill. We'll use a system size of 3kWp as an example.
A 3kWp photovoltaic system will generate approximately 2,400kWh (Kilowatt hours) of electricity a year. A kWh is the same as a Unit, which is the term electricity suppliers use. The 2,400kWh a year is approximate and allows for standard system losses, it is often higher than this.
Prior to having a photovoltaic system installed you would have paid an electricity supplier for this amount of electricity. This would be charged on a per Unit basis. So, if you pay 15 pence per Unit, this amount of electricity would have cost £360. Have a look on your bill and see how much you pay per unit, and don't forget some suppliers use a two tier system.
After having your PV system installed, this amount of electricity would be generated for free - using the Sun's energy. This will mean you will save £360 in the first year.
Assuming at least 15% a year price increase from suppliers, you would save:
- £360 in year one...
- £414 in year two...
- £476 in year three...
- £548 in year four...
- and £630 in year five...
You can see the pattern. Also, this is assuming quite a conservative price rise of just 15% a year.
This is just the electricity saving, see the next page on how you Get paid for your electricity.