As many as half of Britain's homes could earn around £600 a year from roof top solar panels with some earning as much as £1000.
Research carried out by British Gas suggests that over 12 million households have roofs that could benefit from solar panel installations which would produce enough electricity for up to half their household needs.
By cutting their electricity bill and earning money through the Government's Feed-in Tariff scheme - a scheme that pays owners of solar panels for the ‘renewable' electricity they generate - the average household would be better off by around £600 a year and those with bigger systems could benefit by up to £1000.
Collectively, British homes could be £7bn a year better off.
The market for solar installations and other microgeneration technology in the UK is expected to grow rapidly with the new Government support scheme. British Gas predicts that within a decade, one quarter of households will have small-scale microgeneration technology in their homes.
Solar energy will also enable millions of consumers to benefit from carbon savings. An average rooftop could save up to 692 kg of CO2 each per year. As a nation, this means we could make a saving of over 8.5 million tonnes of CO2.
Installing solar panels will create a regular, tax-free income for homeowners. Not only that but the income is index-linked and guaranteed by the Government for the next 25 years. As it typically gives returns of 5-8% it's potentially far better than most current bond or gilt investments. It is also a great way to keep your electricity bills down.
Solar power will revolutionise the way British homes generate and use energy. The time is right for customers to reap the benefits of this technology, cut their electricity bills, reduce their carbon footprint and earn a yearly income.
Source: Catherine Deshayes @ propertytalklive
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