Evy CoeNote: This article contains out-of-date information about the Feed-in Tariff scheme (FITs) which closed to new applications on 31st March 2019. Find out more about the closure on the Energy Saving Trust’s website.
Generating renewable energy is a trend that is getting increasingly popular. Lots of people want to generate their own electricity using renewable sources to help lower their carbon footprint. It also has some great financial incentives.
If you want to generate renewable energy for your property, using solar panels is a fairly easy way to do it. They attach to the roof of your property and use energy from the sun to generate electricity for your home.
The 1kW system is one kind of solar panel installation available. But is it the right system for you and your property? We’ve made a list of its pros and cons to help you decide.
Pros
Gives you free electricity
One of the top benefits of solar panels is that generate free electricity. Sunlight doesn’t cost anything, so the power that it generates is also free. The 1kW solar panel system gives property owners a fantastic chance to generate free electricity, which is highly beneficial given that buying electricity from mainstream providers can be very expensive.
Brings in money
Another advantage of solar panels is that they give you the opportunity to earn money. Through its Feed-in Tariff scheme, the government will pay you for the electricity that your solar panel system generates, even if you use it yourself. The amount your receive per unit of electricity depends on when your register, and this amount is usually guaranteed for the next 20 years.
For current Feed-in Tariff rates and more information, visit the Ofgem website.
Reduces your carbon emissions
Installing a solar panel system can also be beneficial because it can reduce your carbon footprint. The generation of electricity that you buy from most suppliers contributes to carbon dioxide levels in the atmosphere, whereas solar power generation doesn’t. So by generating your own electricity instead of using power generated from non-renewable sources, you’re reducing your carbon emissions.
Lowers your electricity bill
Using solar power to generate electricity can also lower your electricity bill. This is because the free solar power you generate replaces the electricity that you would use from an energy supplier. So installing a solar panel system will reduce how much electricity you need to buy and lower your bill.
Cheapest installation
A good reason to fit a 1kW solar panel system is that it’s the cheapest domestic solar panel system around. So if you have limited cash available up front but want to start generating solar power, it could be the best choice for you.
Cons
System that earns the least
All solar panel systems can make you money but the 1kW system is the installation that earns the least. So if you’re fitting solar panels with a view to earning as much as you can, you might be better off with a 2kW, 3kW or 4kW system.
Small overall profit
The 1kW system is also the system that will earn you the smallest overall profit. Larger systems cost more but they’re worth in the long term. If you can afford to install them, you’ll make more money overall.
So the 1kW system has several pros and cons. Fitting one is a good way to start generating solar power and making money, particularly if you have limited space. But if making a big profit is your main aim, you might want to consider a bigger system.
If you want a solar panel system for your home and are searching for someone to install it, we can help. Complete our online form and we’ll put you in touch with up to 4 local professionals.
Tom Crosswell
