Energy company E.ON says people staying at home all day could save around £913 on energy bills. Customers are emailed by the company informing them of the opportunity to save money by using solar energy.
Save Money with Solar Energy
E.ON's email informs customers that they could reduce their annual energy expenses by £713. Plus, you could also save £200 on solar panel installation.
This dual saving means customers not only cut upfront costs, but also have the potential to 'earn money back' through payments for generating power for the National Grid.
The email states:
We’re here to share some exciting news with you. You could start saving up to £713 a year on your energy with a little help from the sun.
Customers who opt for E.ON's exclusive solar SEG tariffs can export excess solar energy back to the grid, earning additional income. By doing so, customers can benefit financially from their solar panels and at the same time contribute to the energy supply.
As an E.ON Next customer, we’re also offering up to £200 off solar panels and battery system,
Example Savings and Installation Costs
E.ON provides an illustrative example based on a property in central England, equipped with a south-facing solar array on a roof with a 35-degree tilt and no shading. The hypothetical property consumes 4,800 kWh of electricity per year, with residents home all day.
E.ON notes:
"These are example figures only, based on standardised MCS calculations. Savings are based on a property fitted with a south-facing solar array in central England on a roof with a 35-degree tilt and no shading, with electricity consumption of 4,800 kWh per year (with the customer home all day), at a tariff rate of 22.40p/kWh (the Ofgem Energy Price Cap rate from 01 July 2024)."
In the above example, the solar array consists of 12 x 435 W (5.22 kWp) panels producing 4,881 kWh per year, combined with a 5.1 kWh battery. The cost of solar panels from E.ON starts at approximately £5,000, though prices can vary with different installers.
On a system that would cost £7,500 including battery, customers will be able to get back their investment in 12 years, with annual savings of £700.
In the unlikely event of higher energy prices, the payback period could be even shorter, which could mean extra years of profit before the panels need to be replaced.