Solar PV and Solar Thermal Panels
There are two main types of Solar Panel available. Solar PV panels generating electricity and Solar Thermal panels heating hot water. Hybrid panels that combine both technologies also exist but they are more expensive and therefore less popular.
Solar PV Panels
Solar PV panels use light from the sun to generate electricity that can be used in a property, resulting in less electricity being bought from the National Grid. Savings of between 30% and 50% on electricity bills are possible.
You can also receive Feed-in Tariff payments for every unit of electricity generated, plus another payment for units fed back into the grid. Bill savings and Feed-in Tariff payments can add up to as much as £800 per year.
Solar Thermal Panels
Solar Thermal panels use sunlight to heat hot water which can be used for bathing, washing dishes, etc. This reduces the amount of fuel that would normally be burned and can produce savings of £60 to £130 per year.
You can also receive payments for every unit of heat generated through the Renewable Heat Incentive scheme. Payments vary depending on the amount of heat generated but are in the region of £200 to £500 per year.