CreditGo Green to Make Money
Having an environmentally friendly home could make you money as well as cut the cost of household bills. If you have installed, or are thinking about installing, a renewable energy system that generates electricity then you may be able to get paid for the electricity it produces.
Some energy suppliers throughout the United Kingdom are part of a buy back scheme which enables you to sell any surplus energy you may have. There are two main tariffs available to do this; export and generation tariffs.
An export tariff pays you only for the electricity that is exported back to the electricity network so you are not paid for any electricity you use. If you only use a small amount of the electricity your renewable energy system generates then an export tariff may be a better option for you.
Generation tariffs allow you to receive payment for all of the electricity that your system has generated, even if you use it in your own home.
If you expect to use the majority of the energy you generate at home then this would be the most suitable tariff as you will get paid for all the electricity you generate rather than just the surplus electricity.
Depending on where you live in Britain you might be able to take advantage of a fixed price tariff where a specific amount is paid by the energy supplier based on the type or capacity of the installation.
When selling your energy make sure you compare details of all the tariffs offered by the energy suppliers.
In order to monitor units of electricity generated you will need a meter installed. Total generation and export meters can be easily installed and some suppliers may even pay for the meter and its installation so again, it is worthwhile shopping around beforehand. It is also important that you agree the price you will sell your units of energy for before finalising a contract with your chosen energy supplier.
If you are exploring different ways to generate your own electricity then you may have heard of solar photovolatics (PV) system. PV cells are panels you can attach to your roof or walls in order trap the suns energy which is then used to produce electricity for your homes lighting and appliances.
If you live near a water source then a hydroelectricity system might be suitable for you. Hydroelectricity systems generate electricity from running water, like a small stream. Small or micro hydroelectricity systems can produce enough electricity for lighting and electrical appliances in an average home.
Using the wind to generate renewable electricity is another good option as 40% of all the wind energy in Europe blows over the UK, making it an ideal country for wind turbines of all sizes, whether domestic or a larger scale wind farm.
Small systems known as microwind turbines can produce enough electricity to power the lights and electrical appliances in a typical home.