This is a question we’re often asked and the answer will depend on several factors.
- What size of system is it possible to install – is it limited by roof size or other factors?
- How much of the electricity generated from a PV system you would use?
- How much you currently pay per kWh for electricity?
- How much do you think electricity prices will rise over the next 20 years?
- What value do you place the on the CO2 savings generated from installing a Solar PV array?
When we look at these in depth, we find that it is worth installing Solar PV for most people. A typical domestic size Solar PV system would generate between 3,000kWh and 4,000kWh of electricity per annum. Last year in my modest 3 bed semi I consumed 2,793kWh of electricity (without a Solar PV array installed). I have completely decarbonised my electricity consumption and reduced my energy bills with a Solar PV installation.
The downside of Solar PV is that it generates electricity only in daylight hours and its peak production months are May – September, which are the times most households use less electricity.
There are schemes where you can sell the electricity you don’t use to an electricity supplier and these prices do vary, but are usually around the 5p/kWh. New emergent energy suppliers are starting to disrupt the market place with “smart” time of use tariffs. They sell you electricity at different rates depending on the time of day, we have seen that they even pay you to use their electricity, but this tends to be in the small hours of the morning! With these smart tariffs it changes the case for installing a battery system along with your Solar PV array if you can get paid for charging your battery in the middle of night then you really can reduce your bills substantially.
If you are considering installing Solar PV contact EnergyMyWay and we will be happy to discuss the options with you.