5. Utilising a Diverter - utilising a diverter with your solar panel installation means you can use the energy to heat your hot water. If it is a long day during the summer, you could utilise the energy when you are at home, as well as charge your batteries for charging your electric car and then use the diverter to heat your hot water after your batteries have charged to full capacity.
Savings - not only will this save on the cost of using gas to heat the hot water, but it’ll also help promote the longevity of your boiler!
Example - if you have an immersion heater then it’s even easier to calculate potential ROI. If you heat the water with a 3kW heater at a unit rate of 30p per KWh and you heat water twice per day, it could save you over £50 over three summer months**
6. Exporting back to the grid - some energy providers such as Octopus Energy are offering good deals on exporting back to the grid with SEG. Some suppliers will offer as much as 15p per kWh but this usually requires you to use the same company to supply your electricity.
7. Software Buffer - solar panel installation is heavily regulated but this was not always the case. Since 2007 and the creation of MCS, solar panel installation is now regulated and certificated, ensuring every installation meets with the required standards. Part of the process requires data to be input into software at the consultation stage and this provides potential energy generation data, allowing customers to make informed decisions about whether to move forward with the installation of solar panels.
Before these standards were introduced, some installers were providing wildly exaggerated data which lead to common algorithms being utilised within specific industry software. It is worth considering that the software does allow for a percentage or buffer to cover any discrepancies between quoted solar generation and actual generation. We are asking some customers if they’d be kind enough to report back their actual data after a year of installation. It is worth considering that data provided is often a modest calculation of what could be achieved, therefore the initial quotation of ROI is likely to be less than what you’ll achieve.
8. Charging the Car with an EV Charger - half of all solar installations now include both battery storage and car chargers. If these figures for savings associated with car charging compared with petrol were one of the factors it could have significant impact on ROI.
Example - if you were able to cover 250 miles per tank and this was costing 21p per mile and you were doing this every week, then it’d be costing you at least £52.50p per week. If you generated enough energy to charge your car, this could be saving you as much as £2,730 per annum.
There are quite a few factors here for you to consider and it is often the accumulation of these that start adding up to a significant return on investment. However, every situation is different and the examples above are based on average prices which will change daily.
If you have any questions or would like to discuss your situation with one of our engineers, then please use the contact form here or call us on: 0333 577 5229.