- Money expert Martin Lewis has advised UK households on how they can maximise savings from solar panels.
- While the average installation cost is around £6,100, solar panels can save up to £350 annually on energy bills, with a typical break-even point of 10 years.
- Approximately 1.5 million UK homes now feature solar panels, a significant increase of 500,000 since 2022, with grants available to support installations, particularly for low-income households.
- Homeowners with pre-installed solar panels can achieve further savings by understanding their tariff system, which depends on whether the panels were fitted before or after April 2019.
- Those on the Smart Export Guarantee (SEG) system (post-April 2019) should shop around for better export rates, while those on the older Feed-In Tariff (FIT) system (pre-April 2019) can switch to SEG for exports while retaining their higher FIT generation rates, potentially earning up to 30p per kWh.
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