Over the past year, the cost of energy has risen to the highest point in decades. People are shelling out more and more on powering their house, with many wondering what steps they can take to cut down on their bills further.
Solar panels are one of the most effective ways of making long-term savings on your energy bills. By using the renewable energy your panels generate, you spend less on importing energy from the National Grid, lowering your expenses considerably. You even have the chance to sell your excess energy back to suppliers, earning you passive income!
Even better, solar panels are entirely clean and renewable. They will save you money while helping you shrink your carbon footprint hugely.
Solar Service are the South’s specialists in green energy solutions. In this post, we lay out the three key ways you can save – and make – money with solar panels.
1. Solar Panels Lower Your Energy Bills
Solar panels work by transforming sunlight into usable electricity. This electricity can then be used to power much of your home’s appliances, so you don’t need to spend as much on importing energy from the National Grid.
After the initial cost of installation, solar panels will only continue to save you money – and the more panels you install, the bigger your savings are.
2. Solar Panels Can Make You Money Through SEG Tariffs
Solar panels don’t just slash your bills; they can actually make you money, too.
The Smart Export Guarantee (SEG) is a government-backed initiative launched on 1st January 2020. It allows owners of green energy devices (like solar panels and wind turbines) to sell their low-carbon electricity to suppliers, who then export it back to the National Grid.
To become a SEG Generator, you will need to sign up with a SEG Licensee. SEG Licensees decide the rate they will pay SEG Generators, the length of the contract, and other terms. It’s a good idea to analyse all the different offers to see which tariff is best for your situation.
SEG payments are calculated using export metre readings. The average homeowner makes £73 a year this way – however, the specific amount you’ll make depends on your location and power output, as well as the SEG Licensee you choose to go with.
3. You Can Save Even More With a Solar Battery
Solar panels don’t work at night, so you can normally only use the energy they generate in the daytime.
This changes when you install a solar battery onto your system. A solar battery will store the energy you do not use for later, meaning you can utilise your generated energy both in the daytime and at night. This will save you even more on your energy bills.
Expert Solar Panel Installation from Solar Service
At Solar Service, our goal is to help homeowners in the South save money by achieving energy independence.
Our skilled engineers will design a bespoke solar system for your home, balancing performance with aesthetics to create a system you’ll benefit from for yours. They will install your panels carefully and considerately, minimising disruption to your daily life, and will be on the scene in no time should repairs or upgrades need to be carried out.