A Monthly Paycheck Thanks To Solar Panel Installation

Solar power? Wait a minute, what if you don't live in an area that experiences constant sunshine? Well, solar panels rely on daylight and not sunshine to generate electrical current, so this means you can still enjoy electricity on overcast days. Moreover, what's interesting is that solar panel installation can translate into significant sums of money in your pocket overtime. This article explains two major ways how the installation of solar panels can earn you money back.

Feed-in tariffs

Feed-in Tariff refers to the process of obtaining monthly payments from a given energy supplier due to the fact that you are producing your own electricity using solar panels. Feed-in tariffs serve as economic incentives to promote the adoption of renewable power-generating sources like solar panels in a bid to protect Mother Nature from continued destruction resulting from the use of non-renewable energy sources. To qualify for feed-in Tariff payments, you must register with a certified energy supplier.

How the programme works

For every unit of electricity generated by your solar panels, you are entitled to receive a set amount of payment from the energy supplier. Of course, the more electricity units you produce for your home consumption, the higher the payments. This is referred to as generation tariff.

Export tariff

More often than not, solar panels will produce more energy exceeding your daily usage capacity. So what happens to the surplus energy? Well, you can sell it and make a huge profit. You stand to receive payments by selling surplus units to your energy supplier and contributing power back to the energy grid. This is referred to as export tariff. Of course, the more units you feed back into the power grid, the more money you get.

Cost savings on electricity bills

One of the main objectives behind solar panel installation is to reduce your monthly electricity bills. Upon installation of the panels, you will notice a significant drop in your monthly energy expenses. This is because you will be generating your own electricity to power your electronic appliances, which means less reliance on your energy supplier. Energy prices are constantly rising, and with solar panels as an alternative energy fuel, you can expect the amount you save to rise as well in the course of time.

Eligibility date of feed-in tariff

You can begin receiving feed-in tariff payments as soon as the eligibility dates of your solar panel installation. In order to qualify, your solar panel system ought to have been commissioned by a professional installer, and your feed-in tariff energy supplier must have obtained your application. It is recommended that you send in your application to your feed-in tariff energy supplier straight away after solar panel installation in order to start receiving payments immediately.

Solar panel installation allows you to recover the initial installation costs quickly and provides you with a paycheck at the end of every month. Moreover, who doesn't want such an easy and quick source of cash?

For more information, contact a business such as Cool Or Cosy.