Get Paid for Your Electricity Through Solar Panels

solar panels on a red roofDespite the rainy and gloomy weather in the UK, the number of solar panels installed in the country is surprisingly higher in comparison to other countries in Europe, a report from Green Match says.

Solar Photovoltaic panels boost its popularity among UK residents because the panels help them cut their energy bills and reduce their carbon footprint. In addition, the government is allowing people to sell excess electricity back to the national grid through Feed-in Tariff (FIT).

What is FiT?

The Feed-In Tariff, introduced on 1 April 2010, is a government scheme for people use green energy solutions. The tariff rates change annually, in alignment with the Retail Prices Index (RPI). On 8 February 2016, a new scheme began with varying rates and rules, which includes restricting the number of installations the programme supports.

How to Earn from Solar Panels

Eligibility to earn money from generated electricity means applying for the FIT. Once successful, you can earn money for each unit of electricity you generate, or the ‘generation tariff’, for the next 20 years.

The rates differ based on the size of the system, the installed technology, the date of instalment and the efficiency with which you use energy at home.

Consider as well getting a certified installer. There are companies around the UK that offer solar PV installations and would help you register for your FIT.

Additionally, if you sell the excess energy that you don’t use back to your supplier, you could help get an extra 4.85p/kWh per unit.

Across the UK, you’ll notice that schools, churches, farms, police and train stations, and even bridges feature solar panels. And it appears the government is aiming for wider usage with a goal to reach 24.000 commercial rooftops, 2 million homes and 2,000 solar farms by 2020. Solar PV has become a good investment. It is not only helpful for the environment but beneficial as well for your home.

READ  Business Consultants: Are They Worth Hiring for Your Small Business?