Determining the amount of money that the average, typical homeowner could save in the UK from installing a solar PV system can vary based on several factors, such as the size of the system, energy consumption patterns, location, and government incentives. However, government sources provide valuable data to estimate potential savings. It’s important to note that these figures are approximate and subject to individual circumstances.
According to the UK government’s Solar Energy Factsheet, a typical domestic solar PV system in the UK with an installed capacity of 4kWp (kilowatt peak) can generate around 3,800 kilowatt-hours (kWh) of electricity per year. The government estimates that a system of this size can save around £180 per year on electricity bills.
The UK government’s Renewable Heat Incentive (RHI) scheme also provides financial incentives for households that generate renewable heat, including solar thermal systems. Homeowners can further reduce their energy bills by offsetting water heating costs by installing solar thermal systems.
To better estimate the potential savings, homeowners can use online solar calculators from the UK government or reputable energy organizations. These calculators consider specific factors such as location, system size, orientation, and shading to provide a more accurate savings projection.
It’s worth noting that while solar PV systems can lead to long-term cost savings, the initial installation costs should also be considered. The UK government’s Clean Energy Cashback Scheme, known as the Feed-in Tariff (FiT) scheme, is used to provide payments for the electricity generated by solar PV systems. However, this scheme closed to new applicants in 2019, and the current incentives may vary.
Overall, installing a solar PV system in the UK can significantly reduce electricity bills and provide long-term savings for homeowners. It is advisable to consult with reputable solar installers and use official government resources to determine the specific savings potential based on individual circumstances.