Electricity prices have risen by approximately 7% every year for over a decade, the average cost is currently 13p/kwh and the average household using 3300kwh per year, (figures from DECC.) A 1.9kwp Solar PV System can provide 50% of this demand. The graph below shows the reduction in an £650pa electricity bill for3 sizes of Solar PV system. The effect of fuel inflation is shown with annual prices rising to over £2000.
2.Solar PV as an investment
Currently you can get a better rate of return by investing your savings into a Solar PV system rather than putting into a ISA. A £15,750 investment in a 4KWpsystem will return £55,000 in payments and saving over a 25 year period.