As we all know, solar pv is a green way of sourcing energy and significantly reduces ones carbon footprint. It can also be a very profitable investment.
As with most worthwhile investments, there is some commitment needed up front. However, once solar pv panels are installed, the benefits are evident straight from the start.
The first benefit of a solar pv installation is the free energy that they produce. If you can use energy that has been self generated rather than bought then you’re already on to a winner. Then there’s the feed in tariff. This is a payment made directly to you, into a nominated bank account, simply for generating your own energy. This is currently set at 14.38 pence per kwh. Finally, there is the export tariff. This is what you, the consumer, receives in payment for exporting any unused energy that your solar pv panels produce back to the grid. This payment currently stands at 4.77 per kwh.
Unlike the feed in tariff, which is paid based on the exact amount of energy that your solar pv panels produce, the export tariff is paid based on the assumption that you will use 50% of such energy and export 50% back to the National Grid. Knowing this, there are ways to maximise usage of you self generated energy therefore reducing what is actually given back to the grid without affecting the payments you receive.
One such example is the iBoost. This clever device enables the user to channel their surplus energy into powering their immersion heater thus heating their water using self generated energy. The iBoost is a simple to install device and operates wirelessly.
With a Solar PV installation, you can use all of the energy your panels produce, get paid for producing it and get paid for exporting energy to the National Grid that you didn’t actually export to the National Grid.
Who said you can’t have your cake and eat it?