4 ways a solar PV system can help with the cost-of-living crisis - thumbnail image

4 ways a solar PV system can help with the cost-of-living crisis

UK Business Secretary Kwasi Kwarteng revealed earlier this year that the blueprint to rein in soaring energy bills in the UK would be “more of a three, four and five-year answer” rather than something capable of significantly easing financial pressures in the here and now. The UK energy price cap could even rise by a mammoth 75% in October, The Sun has noted. So, it could be useful for you to take a long-term view of how you would be able to reduce your energy costs — and here are several reasons why a solar PV system might be one answer.

A solar PV system can generate energy even on cloudy, overcast days

As the word ‘solar’ indeed suggests, this kind of power is sourced from sunlight. A solar PV system comprises solar panels that are fitted on a roof and, there, absorb sunlight. As a result, eco-friendly electricity is generated for the property’s occupants to use.

Given all of this, it would be easy to assume that a solar PV system is only capable of producing energy when sunshine is abundant. However, even when just a few rays of sunlight are trickling through to your solar panels, they can continue to top up the amount of available electricity.

You can store excess energy in a solar battery

Yes, in the midst of the current crisis, actually having more electricity than you need can seem like something of a good problem to have.

If this electricity is being sourced via a solar PV system, you could do one of two things with the surplus energy: send it back to the National Grid or store it in a battery.

Under the Smart Export Guarantee (SEG), you can earn money from doing the former. However, you could prefer to do the latter if you anticipate needing electricity during, say, evening hours.

Yes, you can make money by exporting excess solar energy

The money you make in this way could certainly help you to offset much of the cost of your energy bills as the cost-of-living crisis continues to intensify. Here, the term ‘excess solar energy’ refers to electricity you generate from solar panels but don’t use yourself.

According to an Energy Saving Trust estimate mentioned by the MoneySavingExpert website, a typical household based approximately in the middle of the UK could bring in between £80 and £110 per year from exporting solar energy via this method.

However, you can benefit most by using what you generate

Actually using most, if not all, of the solar energy you generate can be easier than you might have expected. This is partly due to the option of a solar battery as mentioned earlier, but also because you could still be working from home and spending a large amount of your time there.

When you make Thrift Energy your choice of solar PV installer, you can receive our expert advice about how your lifestyle will affect how much you are able to gain financially from utilising a solar PV system.

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