money matters

In the UK, 20% of our total home energy bill goes on heating water. Solar panels can provide up to 70% of this annual domestic hot water requirement. This means 70% less money spent on heating  water, or 16% a year less on overall energy bills.

It is likely that gas and electricity prices are going to rise very quickly over the next 10 years – some predict prices being 5 times as high in 2020 as they are now. Installing a solar thermal system could save you many thousands of pounds in energy costs.

There is currently no central government support for the installation of solar thermal. However, the Government has announced that it intends to reward homes and businesses that generate their own heat through a scheme called the Renewable Heat Incentive. You will be paid for every unit of heat that you produce, making the financial equation even more attractive than it is now.  The details of this scheme are still being finalised by the Government.