Solar Photovoltaic (PV) Grants.
How does it work?
It is not possible to state exactly how much money you'll save and how much carbon dioxide you'll not generate with any of the solar energy products. Given that orientation of the panels, objects casting shadows, including clouds, your latitude etc., all have an effect, we can only talk about 'typical' values.
A typical domestic solar voltaic system would produce between 1.5 and 2kWp and cost around £4,000 to £9,000 per kWp installed, with most domestic systems usually between 1.5 and 2 kWp.
You could save up to 1.1 tonnes of CO2 a year and £150 to £200 off your annual electricity bill at 2009 prices. Excess electricity can be fed back to the grid.
What will it cost?
If you structure your payments efficiently, then it may cost you very little. Please read on.
If you pay for your installation by re-mortgaging by a typical £6,000 extra, this might add say £300 a year to your mortgage repayments, with interest rates at 5%. So, initially, you may be worse off than before.
However, it doesn't take long for inflation and therefore energy price rises to take that into account and after a short while, it will start paying for itself. As energy prices rise, as they typically do, your expenditure will be proportionately lower than it would have been otherwise.
It will also save on the amount of carbon you put into the atmosphere and in addition, add to the resale value of your home.
You may generate more electricity than you need and be able to feed any excess back into the grid, saving you more. Remember too that the solar savings are tax free, so every pound you save on electricity is typically worth around £1.30 of your taxable income.
Grant savings.
Grant savings. With a maximum of £2,000 per Kw of installed capacity, subject to an overall maximum of £2,500 of 50% of the relevant eligible costs, whichever is the lowest.
Please note:
There is currently a £2,500 grant cap per household for micro-generation, solar heating and other technologies. You may apply for grant towards more than one technology, subject to the maximum overall of £2,500,
What do I need?
In addition, before receiving a grant you are required to:
a) insulate the whole of the loft of the property to meet current building
regulations e.g. 270mm of mineral wool loft insulation or suitable alternative;
b) install cavity wall insulation (if you have cavity walls);
c) fit low energy light bulbs in all appropriate light fittings;
d) install controls for your heating system to include a room thermostat
and a programmer or timer.
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