Making Money With Solar Hot Water Systems
Wednesday, 19 October 2011
If your are looking in to solar hot water systems, while your main concern might be the environmental benefits that you can get from using it, you're probably going to have to think about the financial benefits as well. Very few people can afford to waste their money, especially with the economy being in the condition that it is. While the main reason that renewable is so important then is because it combats global warming, this article will explore how you can make money with it.
Energy Bills
If you are bill payer for electricity, gas and other forms of energy then you will hardly have been able to fail to notice that the prices for it have been going up. And that trend is set to continue. That might be why you are now interested in renewable energy systems instead. In that case, all you have to worry about really is the cost of the installation.
The good news with solar thermal installations is that they are not as expensive as solar installations of PV solar panels which generate electricity. With solar electricity you can do a lot more of course, but a solar heating systems is also going to bring your energy bills down substantially.
In general, solar thermal panels are able to provide you with up to 80% of your heating needs. You'll still need a boiler for the extra amount then, but as it won't have to heat water that is cold this is going to require a lot less energy. That's why you'll be saving money as well as helping the environment at the same time.
Through savings alone then you'll be making quite a lot with your solar thermal panels. To make this proposition even more attractive, however, the government is introducing the renewable heat incentive in 2012. This promises to make using renewable energy an even better financial investment.
Renewable Heat Incentive
To get an idea of how the renewable heat incentive is going to work all you have to do is take a look at how the feed in tariff works right now. The feed in tariff applies to electricity-producing renewable technology such as PV solar panels. If you are signed up to the program then for each unit of electricity that you produce in this way, you'll be paid some amount. That's how the renewable heat incentive is going to work for solar hot water systems, only for heat energy of course.
The effect of the renewable heat incentive is therefore that the savings you make on your energy bills increase. Actually although that is just an analogy really, that is also how it will work in practice as the way that you get paid the money is by taking it off your energy bills. And if you end up being owed money, then you get paid by your energy supplier.
If you want to know the amount that you can actually expect to make with the renewable heat incentive though, that is not something that is directly translatable from the feed in tariff. If you get PV solar panels then the money you get from the feed in tariff is often around 1,000 a year. As the installation costs on solar thermal systems are lower though, you can't expect the renewable heat incentive to make you that much.
Effects of Inflation
The rate of inflation has been going up in recent years, which is part of the reason that we have been seeing energy prices rising. However the price of energy has actually been exceeding the rate of inflation, which is why it is even more useful that solar hot water systems are inflation proof. The more that prices go up, that just means the more that you'll be saving on energy.
In terms of the renewable heat incentive, that is also going to be inflation proof because the amount that you get is going to depend on the retail price index (RPI). That tracks inflation, so the amount you get for each unit of energy that you produce is going to rise in line with inflation.
About the Author:
To find out more about solar power, author Stanley Adams writes lots more on the subject at Solar Hot Water Systems. Find out additional information regarding how the system works, for example how much money you can make, and obtain a free quote for an installation.
Brought to you by Chandlery Direct Blogging Team
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If your are looking in to solar hot water systems, while your main concern might be the environmental benefits that you can get from using it, you're probably going to have to think about the financial benefits as well. Very few people can afford to waste their money, especially with the economy being in the condition that it is. While the main reason that renewable is so important then is because it combats global warming, this article will explore how you can make money with it.
Energy Bills
If you are bill payer for electricity, gas and other forms of energy then you will hardly have been able to fail to notice that the prices for it have been going up. And that trend is set to continue. That might be why you are now interested in renewable energy systems instead. In that case, all you have to worry about really is the cost of the installation.
The good news with solar thermal installations is that they are not as expensive as solar installations of PV solar panels which generate electricity. With solar electricity you can do a lot more of course, but a solar heating systems is also going to bring your energy bills down substantially.
In general, solar thermal panels are able to provide you with up to 80% of your heating needs. You'll still need a boiler for the extra amount then, but as it won't have to heat water that is cold this is going to require a lot less energy. That's why you'll be saving money as well as helping the environment at the same time.
Through savings alone then you'll be making quite a lot with your solar thermal panels. To make this proposition even more attractive, however, the government is introducing the renewable heat incentive in 2012. This promises to make using renewable energy an even better financial investment.
Renewable Heat Incentive
To get an idea of how the renewable heat incentive is going to work all you have to do is take a look at how the feed in tariff works right now. The feed in tariff applies to electricity-producing renewable technology such as PV solar panels. If you are signed up to the program then for each unit of electricity that you produce in this way, you'll be paid some amount. That's how the renewable heat incentive is going to work for solar hot water systems, only for heat energy of course.
The effect of the renewable heat incentive is therefore that the savings you make on your energy bills increase. Actually although that is just an analogy really, that is also how it will work in practice as the way that you get paid the money is by taking it off your energy bills. And if you end up being owed money, then you get paid by your energy supplier.
If you want to know the amount that you can actually expect to make with the renewable heat incentive though, that is not something that is directly translatable from the feed in tariff. If you get PV solar panels then the money you get from the feed in tariff is often around 1,000 a year. As the installation costs on solar thermal systems are lower though, you can't expect the renewable heat incentive to make you that much.
Effects of Inflation
The rate of inflation has been going up in recent years, which is part of the reason that we have been seeing energy prices rising. However the price of energy has actually been exceeding the rate of inflation, which is why it is even more useful that solar hot water systems are inflation proof. The more that prices go up, that just means the more that you'll be saving on energy.
In terms of the renewable heat incentive, that is also going to be inflation proof because the amount that you get is going to depend on the retail price index (RPI). That tracks inflation, so the amount you get for each unit of energy that you produce is going to rise in line with inflation.
Energy Bills
If you are bill payer for electricity, gas and other forms of energy then you will hardly have been able to fail to notice that the prices for it have been going up. And that trend is set to continue. That might be why you are now interested in renewable energy systems instead. In that case, all you have to worry about really is the cost of the installation.
The good news with solar thermal installations is that they are not as expensive as solar installations of PV solar panels which generate electricity. With solar electricity you can do a lot more of course, but a solar heating systems is also going to bring your energy bills down substantially.
In general, solar thermal panels are able to provide you with up to 80% of your heating needs. You'll still need a boiler for the extra amount then, but as it won't have to heat water that is cold this is going to require a lot less energy. That's why you'll be saving money as well as helping the environment at the same time.
Through savings alone then you'll be making quite a lot with your solar thermal panels. To make this proposition even more attractive, however, the government is introducing the renewable heat incentive in 2012. This promises to make using renewable energy an even better financial investment.
Renewable Heat Incentive
To get an idea of how the renewable heat incentive is going to work all you have to do is take a look at how the feed in tariff works right now. The feed in tariff applies to electricity-producing renewable technology such as PV solar panels. If you are signed up to the program then for each unit of electricity that you produce in this way, you'll be paid some amount. That's how the renewable heat incentive is going to work for solar hot water systems, only for heat energy of course.
The effect of the renewable heat incentive is therefore that the savings you make on your energy bills increase. Actually although that is just an analogy really, that is also how it will work in practice as the way that you get paid the money is by taking it off your energy bills. And if you end up being owed money, then you get paid by your energy supplier.
If you want to know the amount that you can actually expect to make with the renewable heat incentive though, that is not something that is directly translatable from the feed in tariff. If you get PV solar panels then the money you get from the feed in tariff is often around 1,000 a year. As the installation costs on solar thermal systems are lower though, you can't expect the renewable heat incentive to make you that much.
Effects of Inflation
The rate of inflation has been going up in recent years, which is part of the reason that we have been seeing energy prices rising. However the price of energy has actually been exceeding the rate of inflation, which is why it is even more useful that solar hot water systems are inflation proof. The more that prices go up, that just means the more that you'll be saving on energy.
In terms of the renewable heat incentive, that is also going to be inflation proof because the amount that you get is going to depend on the retail price index (RPI). That tracks inflation, so the amount you get for each unit of energy that you produce is going to rise in line with inflation.
About the Author:
To find out more about solar power, author Stanley Adams writes lots more on the subject at Solar Hot Water Systems. Find out additional information regarding how the system works, for example how much money you can make, and obtain a free quote for an installation.
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1 Comments:
The solar panels are made of photovoltaic cells that convert sun energy into electric energy used for heating purposes or to power electrical devices.
solar panels
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