Financial Benefits
The installation of a solar PV system benefits you in not only generating green renewable energy and helping to reduce your carbon footprint, but it is also a sound financial investment generating an annual income and adding value to your home.
The size of Solar PV system installed will also dictate the level of annual return, however the government estimate a 7-10% return on the investment can be anticipated.
You will generate revenue in three main ways:
- Your electricity supplier will pay you for each unit of electricity (kWh) your solar panels generate – even if you consume that electricity within your home!
- Your electricity supplier will pay you an additional sum for all electricity you export back to the National Grid.
- In a time when fuel bills are constantly rising, you will reduce your overall electricity bills by generating your own electricity while importing less from the National Grid.
The Feed-in Tariff (FiT)
The Feed in Tariff (FiT) is an environmental incentive programme introduced by the government on 1st February 2010 to promote widespread uptake of small-scale renewable and low carbon electricity generation technologies, rewarding home owners for generating their own green electricity. The scheme was developed to enable the government to achieve its obligations under EU laws to generate 15% of the electricity consumed from renewable technologies by 2020.
The Feed in Tariff (FiT) works on the basis that the consumer will be paid for each kilowatt hour of electricity their system generates even when this green, carbon free electricity is consumed within the home. The electricity supplier will also make an additional payment for electricity which is not consumed and instead fed back into the National Grid.
Generation and Export Tariffs:
The Feed in Tariff will be index linked ensuring the tariff received will not devalue over time and will rise in line with inflation. The Government have pledged to guarantee the feed in tariff for 25 years, leaving adequate time to yield the return on any investment.
The current generation and export tariffs are illustrated in the table below:
Energy Source |
PV Systems Upto 4KW |
Generation Tariff (p/kWh) |
Export Tariff (p/kWh) |
Duration |
Solar PV |
4 kW new |
37.8 |
3.1 |
25 |
Solar PV |
4 kW retrofit |
43.3 |
3.1 |
25 |
Solar PV |
4-10kW |
37.8 |
3.1 |
25 |
Solar PV |
10 - 100kW |
32.9 |
3.1 |
25 |
Solar PV |
100kW - 5MW |
30.7 |
3.1 |
25 |
Solar PV |
Standalone |
30.7 |
3.1 |
25 |
What can I expect to earn?
The performance of Solar PV systems is impossible to predict with certainty due to the variability in the amount of solar radiation (sunlight) from location to location and from year to year. Estimates are based upon the Government's standard assessment procedure for energy rating of buildings.
(SAP) and is given as guidance only. It should not be considered as a guarantee of performance.
The size of Solar PV system, referred to in terms of its power output in full sunlight known as its kilowatt peak (kWp), is usually governed by available roof space and budget.
The size of Solar PV system installed will also dictate the level of annual return, however the government estimate a 7-10% return on the investment can be anticipated.
We are able to provide a PV system to suit any budget. However it is worth noting that the payback time of the system is determined by the income generated by the FiT, which in turn is determined by the electricity produced. The electricity produced is determined by the size (kWp) of the system originally installed.
The average household will consume 3300kWh/yr – Installing a 2.52kWp PV system would generate over half the average household consumption
Our reputation for distinctive work and unparalleled quality is based on three guiding principles:
- Attention to detail and scrupulous principle supervision. Walton Build provides a full range of construction services, without sacrificing personal attention to each job.
- Clear client communication. Clear and frequent communication is vital to completing a project on time and in budget.
- Quality people and quality materials. We work with a hand-picked team of joiners and sub-contractors whose standards complement our own. Our selection of materials is always based on long-lasting value.
