How Thrift Energy can help you earn money on the energy you generate
The idea of making money by generating energy can sound quite daunting. We’re not suggesting you set up your own power station just yet, but have you considered one of our renewable options?
With Solar PV from Thrift Energy, you will have the opportunity to make money from the energy you are creating, as well as saving some in the long rung. We’ll outline exactly how it all works down below.
How does it all work?
There are two keys ways that installing Solar PV with Thrift Energy can generate you some extra pocket money.
Firstly, it will reduce your energy bill, as you are generating your own electricity. The most common Solar PV installation is a 3.5kWp system, that typically generates around 3,000kWh of electricity each year, which roughly accounts for around 75% of typical household’s electricity consumption. You will save roughly 14p/kWh, which is about the cost you are charged by your energy supplier.
Secondly, every time you export a unit of energy to the grid you stand to benefit from the governments generation tariff, which is part of the Feed-In Tariff (FIT) scheme. There is currently no set price per sale – it varies depending on the size of your system. Payments currently range from 7.1p/kWh for larger systems and 16p/kWh for smaller ones.
On top of FIT, you also receive a fixed rate of 4.5p/kWh for any extra energy you feed back into the National Grid.
How can I maximise my earnings?
The most efficient way to maximise your Solar PV earnings is by being efficient with when you use electricity. Try to maximise your electricity use during the day. Run the washing machine and the tumble dryer or the dishwasher then, as the price that your surplus energy is sold back to the grid at is much lower than the rate you ay your energy company for electricity.
It is important to remember that all the Solar PV earnings need to be offset against the cost of installing and maintaining your system. The average installation cost ranges from £2,500 to £15,000. With this in mind, it could be up to eleven years before you go into profit.
Standard earning is roughly £645 a year, giving you an income of £3,225 by year 5 and so on. It is worth noting however, that earning can grow if energy bills continue to rise, as the savings you make will increase considerably.
Of course, Solar PV is not the only energy option Thrift can offer you. Our vast range of insulation measures can also help you save money, earning back what you would have otherwise lost in heating bills.
If you’re considering insulation and are looking for cavity wall insulation installers near me, look no further than Thrift Energy. We are fully equipped to install cavity wall insulation in your home, saving you money and heating your home almost immediately.