Since the launch of the Feed In Tariff Scheme, the Solar PV Industry has boomed! The main driver of this was the quick and long term financial investment offered by the scheme. Unfortunately the FIT Scheme has come to an end . . . but not all is lost.
With quarterly reviews, reductions in the tariffs and the inevitable demise of the FIT Scheme, materials and installation costs have also reduced dramatically. In addition to these reductions, the wholesale costs of electricity have soared with an average annual increase of over 6%. This has made it more important than ever for businesses and homeowners to become more self sufficient and sustainable.
How does it work?
Solar panels take energy from the sun and convert it into electricity. This electricity is connected to your existing supply meaning that it becomes available for consumption in your property. If the generated electricity isn't used instantly it exports to the grid. It is now possible to get paid for the electricity that you export to the grid through the Smart Export Guarantee Scheme (SEG). Your smart meter is capable of recording export and once agreed with your supplier, you will be paid a fixed amoount for this. This amount varies between suppliers so be sure to shop around.
If the generated electricity is being used and more is required you will import the rest from the grid as normal. You will always use the generated electricity before importing from the grid. This leads to significant savings on your bills.
A standard installation does not have the capacity to store generated electricity. That's where Battery Storage can be added to maximise self-consumption of the free generated electricity as well as take advantage of cheap off peak electricity from the like of Octopus Energy.
Are Batteries worth it?
Quick answer . . . ABSOLUTELY!!!
Battery technology is advancing so rapidly. If you are a really high consumer of electricity and are subject to TRIAD and TNUoS charges, it's not even necessary to have Solar PV Installed. We work with companies that use large containerised battery systems to import and store electricity at off-peak times and release it at peak times. This helps them purchase cheap electricity and therefore save money on bills, but also minimise charges for peak time consumption.
How much storage and whether to have it at all completely depends on circumstance. Some customers want to maximise their Solar PV capacity and self-consumption for environmental reasons, others want to make a dints in their bills.
GivEnergy 3.6kW Hybrid Inverter with 8.2kWh battery pack
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