The Green Deal is a great way to do good things for our world, to stop being a part of the problem, and to start becoming a part of the solution. Although the Green Deal consists of a loan at the beginning, it doesn’t even have to have to be paid up front, and the money will slowly be rapid through your energy bills. The best part is, the loan will help you save up some energy, improve your home, and ultimately the loan will pay for itself.
One way to take advantage of the Green Deal, is to install solar panels, known as solar photovoltaics. These capture the sun’s energy (and it has plenty) so it is pretty much an infinite source of energy, and the only thing that can go wrong with the deal is on the side of the panels (if the sun stops giving us energy, you’ll have concerns bigger than your energy bills), but it is nothing some insurance/guarantee can’t cover. These panels carry a few advantages, like cutting on electricity bills, and you will still get paid for producing electricity even if you use it, thanks to the UK government’s Feed-in Tariffs. As if that was not good enough, you can still sell electricity back to the grid if you produce more than what you need. Finally, the biggest advantage of all: you will reduce the damage you do to our planet by a little bit. It might not be much, but if everyone did it, it would be a lot!
To be more specific a 4kWp system can generate the amount of electricity the average household requires per year, while cutting some slack on our planet – the only one we have. These panels cost 6,000 (7,400 with VAT included), but they will generate a an income of around 650-750 per year, depending on the advantages you manage to take from it. Even in the worst case scenario, it would take you little over one decade to get your investment back, and after that, all the income, passive income, coming from the solar panel would be profit.
The average lifespan of a solar panel is of two and a half decades (25 years), and they require little maintenance to be kept ( they need to be cleaned, protected and they need to have access to the sun). During it’s lifespan, the only cost it should have after installation is the cost of replacing the inverter, which should cost around 800, which is a loss of little over a year. It might look like slow progress, but remember that step by step, things get done. Plus, if everyone joined in, the progress would be huge, both financially and environmentally.