Comparing The Most Popular Renewable Energy Systems
If you want to make the switch to renewable energy in 2019, then take the time to compare payback times.
If you are thinking of powering your home using renewable energy, then it’s important to choose the right kind for you and your family. Each kind of renewable energy system has its own payback time – that’s how long it takes to save the amount you paid for it from your energy bills. To help you choose the right one, here’s a quick comparison of initial costs and payback times.
Insulation is very easy to install, and you’ll see a payback in a relatively short time. If you were to spend £440 on cavity wall insulation you would save £145 on your fuel bills – and it would pay for itself in three years. If you choose to insulate your loft, an investment of £325 would save you £60 per year, paying for itself in five years. So make sure to have this in place before anything else. In solid walled homes, you can either fit internal insulation (cheap) or external insulation (more expensive). Also, insulation under suspended floors if that’s an option. Internal and underfloor insulation require some upheaval and internal renovation though.
Solar panels are becoming increasingly popular with homeowners, especially when used with other energy saving techniques. They can be quite expensive to install, with the average bill coming in at around £20,000 – but it’s not all bad news. If incorporated into a new build and if energy prices continue to rise, you could see a payback within 13 years. That’s not bad if you’re planning to stay in your home for a long time!
Wind power turbines are one of the most recognisable renewable energy systems in the UK. In extremely windy locations, they can generate a huge amount of power and pay their installation costs back within months – although a more conservative estimate is around 7-8 years. However, the wind needs to be consistent and coming from the same direction. If you live in a suitable area, then see if you can join a local power-sharing scheme.
Heat pumps move heat from one place to another – in this instance using the air from outside to warm a home. It’s a little like how a fridge uses air from the outside to cool the interior. It’s a lot easier to install a heat pump system during a new build, but it can still be done on an existing property. If you are using it to heat water this form of renewable energy could cost up to £250 a year less than gas, and £650 a year less than oil – which could mean a pretty swift payback!
Solar water heating
Last but not least is solar water heating. This is where heat from the sun is used to heat your water, and it’s one of the cheapest renewable energy systems to install. If you’re lucky enough to have a south-facing garden, you could heat up to 75% of your water for a year. It currently has a payback time of around 7-8 years, making it ideal for both new builds and existing properties.
Will you make the change?
With renewable energy costing less than it ever has before, it’s clear that now is the right time to make the switch. By consulting Terra Therma, your local experts in green energy, you’ll be able to move forward and install a system that perfectly meets your needs. So why not start doing a little research today? The planet will thank you, that’s for sure!