What are the benefits?
More information on the benefits of installing your own renewable energy system
Anyone who installs their own renewable energy system, whether on a domestic property, commerical building or as a residential landlord, would benefit in three ways:
Making your own energy (and reducing your current energy bill)
By generating some of the electricity you need yourself, you will have to buy less from your electricity supplier. That means that the amount you will have to spend on buying electricity will drop.
You can even increase your savings by being more energy efficient: the less electricity you use yourself, the more you can export back into the grid, for which you'll receive payments.
In addition, we have all seen our electricity bills rise and rise in recent years and this trend is forecast to continue. In fact, by 2020 the energy regulator predicts that energy prices could rise by 60%. Fortunately, the Feed-In Tariffs means these electricity price rises will have far less impact on you.
Making money by getting paid for the energy you produce
This is the genius of the tariffs. Not only do you save money from importing less electricity but you actually get paid for the energy you generate. Because these tariff levels are set by the Government, the payback period is guaranteed.
Making a difference to the environment
At present 95% of the electricity we use comes from oil, gas, coal or nuclear power stations and only 5% from clean renewable source. By installing renewable energy under the Feed-In Tariffs and Renewable Heat Incentive, you can increase your renewable contribution towards 100% (or even more if you feed back more than you import).
Not only does this make your energy more affordable; you can also take pleasure in the fact that your own carbon footprint is greatly reduced. This is good for you and good for all of us.