How to save money on your energy bills
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Which’s website recommends making your own electricity as a method of saving cash.
Though it takes time to recoup the installation cost, if you want to go the extra mile for energy efficiency, you could try producing your own electricity. Solar panels can generate electricity (solar PV panels) or, for a much lower initial cost, just help you heat water (solar thermal panels) – this can slash your water heating bill by a third. Find out whether solar panels are a good investment for you in our solar panel guide.
A financial incentive, the Feed-in Tariff, pays you to generate electricity using solar PV panels. You could make around £12,000 over 20 years (although you should take into account repaying the cost of buying the panels which could be around £7,600) .
Small domestic wind turbines are much cheaper to install; around £2,000 (1kW roof-mounted turbine) so have shorter payback periods than solar panels. The average wind speed around your house is key to how your small domestic turbine will perform. For most people in the UK, it won’t be worth it. Find out more in our wind turbine guide.
Saving: An average solar PV installation (3.5kWp costing £7,600) positioned on an optimum roof could save £82 on energy bills annually and earn £518 in tariffs.