- The electricity generated will pay the homeowner approximately
£920 a year tax-free.
- Remaining electricity costs reduced from £495 to £365
saving £130 a year.
- So the total annual benefit for the homeowner is £1,050 per year.
The tariffs should cover the initial capital cost and, according to the Government, earn a
return up to 10% p.a. In practice that means you
should pay back the capital cost at least 2 to 3 times or more over the duration of the
tariffs.
After the payback period, owners of Solar PV systems will still enjoy substantial savings on
their energy bills and income for a further 10
years and beyond. A typical domestic solar (PV) system of
approximately2.52 kWp can produce around
40% of the electricity a household uses in
a year.
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