As reports suggest more cold weather is on its way, why not look into renewable energy as a free way to generate heat and electricity. Last year gas and electricity prices reached an all new high, and gas is expected to increase in price once again. In fact, over the next few years our energy bills are only going to get higher and higher.
In order to avoid these rising costs, renewable energy is a viable alternative and over 25 years you’ll make a substantial profit with government incentives and reduced bills. Solar panels in particular offer a 9-11% annual return of investment, by earning through the government’s Feed-in tariff, the export tariff and free electricity.
Until March 3, solar PV systems are eligible for the government’s higher tariff rate of 43.3p/kWh. The tariff will then drop to 21p for all installations completed after that date.
Other renewable energy products are available too, such as geothermal heat pumps and air source heat pumps. These take heat from the ground and air respectively before converting it into heat and electricity to use in the home.
Microwind turbines are yet another possibility, taking the natural energy and converting it into electricity. Wind turbines are eligible for the higher government tariff until April 1, and just like solar panels – are expected to last for at least 25 years.
Another huge benefit to renewable energy is it’s known as a ‘fit and forget’ technology. There’s very little maintenance needed and once installed you’ll simply forget all about it. With solar panels you’ll have to ensure trees don’t shadow the system, but that’s simple enough.
Renewable energy is backed by the government because of its environmentally friendly nature. The technologies don’t create carbon when used, unlike fossil fuels such as coal, gas and oil.
So if you’re looking to reduce your bills all through the year with an environmentally friendly option, why not look into renewable energy. It works even in the winter and will save you hundreds of pounds every year.
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