Yahoo Finance Solar power could save Brits £350 a year on energy bills
UK homeowners could save up to £350 ($454) a year on their energy bills by installing solar panels, research shows.
The average household is able to generate £315 worth of solar energy annually, analysis by solar panel installers EffectiveHome.co.uk, based on data from smart energy supplier Social Energy, found.
In terms of environmentalism, this is the green equivalent of planting 37 new trees and growing them for 10 years, 1087kg of coal saved from being burned, and 5,386 miles driven in an average car.
The average family with solar panels fitted to their property has offset 2,171kg of carbon dioxide in the last 12 months by generating 100% clean solar energy.
What's more, homeowners in most regions can actually save more than the national average. Those in the east of England can save the most, being able to generate up to £350 of solar energy every year.
The south of England follows closely behind, with homeowners saving about £346 a year on energy bills by harnessing solar energy.
READ MORE: Almost 3 million UK households face energy bill debt over winter months
East midlands residents save about £344 a year, those in the south-east put away £343, and south Wales rounds out the top five regions to save in, at £339 a year.
South Scotland (£326), north Wales (£325), London (£324), Yorkshire (£321), south-west England (£318), and west midlands (£317) residents can also make above-average savings.
Meanwhile, those in the north of the UK are unable to generate as much solar energy as other areas, therefore dragging down the national average.
Scottish residents save the least, at just £166 a year. However, the the north-east (£290) and north-west (£303) also make below-average savings.
Homeowners were able to generate the most solar power in May this year. The average solar user saved £48.87 on their bills in the month, according to the data.
Over the next 30 years, homeowners could save £31,022 on their energy bills, the research found.
READ MORE: Five easy ways you can reduce your energy bills by hundreds of pounds
What's more, in a financial pinch, homeowners can sell unused energy stored in their home solar panel battery systems back to the national grid. This helps prevent power cuts in the electricity network, while also making the homeowner money.
In the UK, solar panel owners make about £137.30 a year from exporting energy back to the grid and delivering grid trading.
However, the south-west exports a slightly higher £147.16 back to the grid, the data shows.
“With spiraling household energy bills, we wanted to examine how the personal finances of homeowners are benefitting,” said Graham Roddan at EffectiveHome.co.uk.
“It seems more and more people are tapping into the power of solar to take control of their bills, make significant savings and give something back to the environment.”
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