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Stop Losing Money: How Solar Panels and Energy Storage Systems Can Boost Your Savings and Generate Income

PV Solar & Electric Batteries
September 28, 2024
By shem on
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Store cheap off-peak energy and use it to power your Southampton home

Maximize Your Savings and Energy Independence with Solar Panels and Storage Systems

In today’s energy landscape, solar panels and electric storage systems (ESS) work hand-in-hand to maximize efficiency and provide financial benefits. Solar panels generate electricity from sunlight, but their real advantage shines when paired with an energy storage system. An ESS allows homeowners to store excess solar power generated during the day and use it when the sun isn’t shining, like at night or during peak energy rates.

This combination is transformative, especially with feed-in tariffs (FIT). A feed-in tariff allows homeowners to sell surplus energy back to the grid at a set price. Any electricity you don’t use during the day gets exported to the grid, effectively turning your home into a small power plant that generates income. Even if FITs have reduced in some regions, many energy suppliers offer schemes where you can get paid for exporting unused energy back to the grid.

Here’s how these two technologies can work together to help you save or even make money:

1. Reduced Energy Bills

Solar panels significantly lower your reliance on grid electricity. With an ESS, you store power and avoid buying expensive energy during peak times, resulting in reduced bills.

2. Income from Surplus Energy

With a feed-in tariff or export payment scheme, you get compensated for any excess energy sent back to the grid. Even without a high FIT, modern smart export schemes provide a revenue stream from unused solar power.

3. Greater Energy Independence

By generating and storing your electricity, you reduce vulnerability to rising energy prices and supply shortages. This autonomy ensures your home is powered sustainably and cost-effectively.

4. Environmental Impact

By storing and using renewable energy efficiently, you're contributing to a greener future and reducing your carbon footprint.

5. Future-Proofing

As energy prices fluctuate and technology improves, homes with solar panels and ESS are set to become more valuable. Additionally, evolving government incentives and green initiatives may provide more opportunities to earn from renewable energy production.

How to Get the Most Out of Solar and ESS

To maximize these benefits, it’s essential to:

  • Choose the right battery size that meets your energy consumption needs.
  • Monitor energy usage patterns to optimize storage and consumption.
  • Regularly check for government incentives or local schemes offering export tariffs.

What are the right solar panels and electric storage systems?

With the right setup, solar panels and electric storage systems offer more than just sustainable energy—they represent a financial asset for homeowners. Whether you want to reduce costs or generate extra income, these technologies work together to provide a resilient and eco-friendly energy solution.
Call on 023 8181 0636 or visit www.solidelectrics.co.uk to get started!

Sources:

  1. Energy Saving Trust
  2. Ofgem: Feed-In Tariffs Scheme
  3. Solar Power Portal UK

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