Clean Energy Cashback

Clean Energy Cashback is an incentive scheme that pays small producers of renewable energy a set premium rate for the renewable energy they produce and export into the national grid. This means that as well as making big savings on energy bills, you can also get paid cash for the energy you produce.

People and businesses who install or already have installed renewable energy products like wind turbines and solar panels on their land can expect to be paid 36.5p per kWh for Solar PV energy and 23p per kWh for renewable energy generated by wind turbines. In monetary terms this means that people with solar PV panels, or people looking to install them will be able to earn close to £1,000 a year from energy saving and the money received from the clean energy cashback scheme, as well as any savings made on utility bills from reduced energy usage. The scheme is guaranteed to pay people and businesses for 20 years for all renewable except solar PV where the shceme lasts for and 25 years.

With an average solar PV system costing £8,000-£10,000 considerable money can be earned. In addition to this, photovoltaic panels have a lifespan of more than 25 years, so even if the clean energy cashback scheme stops, savings will still be made on electricity costs.

For wind turbines, rewards can be even higher. The Guardian stated that installation of large wind turbines are likely to bring in revenues of around £6,000 a year from energy savings and selling back to the national grid as part of the clean energy cashback feed-in tariff scheme. Uptake in rural areas from people with large gardens and also landowners could be very popular as an investment opportunity. Cost and installation of large wind turbines can be expensive around £50,000, but with the savings and money that can be made from the clean energy cashback scheme, large profits can start being made in the 10th year after installation.

Homeowners and businesses can expect an annual return of between 7% and 12% depending on which renewable energy technologies are implemented. This safe and secure investment in these difficult economic times, twinned with the environmental benefits makes investment into microgeneration technologies extremely attractive for any business or homeowner.

If you would like any more information or would like to speak to us about installing renewable technologies for you, please contact us.