Investing in solar energy offers many long-term financial benefits, which hinge heavily on the amount of power your home’s solar array can feasibly produce. A well-designed system can reap immense benefits in terms of tax reduction and feed-in tariffs.
The United Kingdom is expected to draw more and more of its energy from renewables, with prior predictions expecting this year to be the historical point where renewables would exceed fossil fuels as the country’s primary energy source. Despite the continuing presence of challenges, renewables continue to grow, thanks in no small part to the benefits they offer to residential homeowners.
Although much has been said about how solar panels can save you money, determining how much money you will likely save upon installation is much more complicated. Dedicated solar panel installation services can help you identify the system that allows you to maximise the amount of money you save (and potentially earn) through installing a solar array in your home.
Calculating the expected returns from solar panel installation requires understanding the amount of power your home consumes on average and the nature of your property relative to its position and the general climate. The amount of savings you gain from a solar array would feasibly gain will depend on how well you can maximise the amount of power you make through your solar array.
Sunshine and Power
In general, the amount of power your home can potentially generate is tied to how much of your property is exposed to full sun. A house in the shade might not have as much room to place productive solar panels on the roof, whereas a home in full sun will produce relatively large amounts of power when the panels are placed in an optimum location (i.e. facing east).
It is a common truism that solar panels work best in climates where sunny weather predominates, and true enough, places like California are where solar panels are at their most popular. In more temperate climates, meanwhile, solar panels can still deliver immense savings in energy, especially as a supplemental source of power where energy consumption is expected to rise considerably.
In the summer months alone, solar panels can easily mitigate the energy costs associated with air conditioning and then some, due to the stronger intensity of sunlight and the greater prevalence of sunny days. The opposite, however, is not as straightforward as it seems. Solar panels only stop working when the sun stops shining, which is usually at night.
Contrary to a popular myth, solar panels still function in overcast days. Just like how some light is still visible even in an overcast day, sunlight still penetrates enough to allow photovoltaic cells to generate energy, albeit in a reduced capacity. If direct sunlight penetrates through a part in the cloud cover, the panels may produce more power from the reflected sunlight around the clouds.
Besides saving money from the amount of power your household would’ve otherwise consumed from the grid, solar panel arrays also provide other financial incentives. Solar energy adoption is incentivised through feed-in tariffs, allowing homeowners and companies to reap more economic benefits from the adoption of green energy.
An extremely efficient home solar array can produce more energy than the family would consume, which can either be stored in the batteries and when those are fully charged, be sold back to the grid. In the U.K., the feed-in tariff system incentivising homeowners for producing more power than they need—which is often reflected as a net deduction from their next energy bills. Further incentives include the smart export guarantee, which would come in effect in January the following year.