A few eco-conscious souls may be prepared to shell out for a wind turbine and solar panels simply to ease their consciences, but most of us aren’t so good: we require clear financial incentives to go green. Research shows that we are happy to pay a premium for houses with energy-saving features if they mean our bills will end up lower and we’re happy to install green technology ourselves if it will save us money (86% of us say we would consider it). But if there’s no money in it for us, we generally won’t do it.
How much money could you save by going green?
The big question then is this: can going green at home make financial as well as environmental sense? The answer, says Ashley Seager in The Guardian, is a qualified ‘yes’. Soaring energy prices mean that for most of us solar power is now a “realistic, cost-effective option”. Installing the panels may require some capital expenditure upfront, but in the long run it will pay off, not least by adding an estimated 9% to the value of your house. And the up-front costs needn’t break the bank either. Right now, you can get a government grant of up to 50% for the cost of installing solar panels and so on, and equipment prices are coming down fast too. Up until now, the figures quoted for installing green technologies have been off-puttingly high. A basic solar water-heating system? £2,000-£3,000. A wind turbine? As much as £18,000. But B&Q has just made things cheaper. As of this month, it is stocking water heating solar panels and wind turbines. The latter cost £1,498, including installation, and should knock 30% off your electricity bill, says Karen Rockett in the Sunday Mirror. The solar panels start at around the same price.
So how do these alternative technologies work? Solar water-heating systems use panels to collect heat that then heats water, usually in tandem with your existing heating, says The Independent. Solar electricity systems use photovoltaic cells to convert solar radiation into electricity.
How much do alternative technologies cost?
A basic water-heating system is likely to cost £2,000-£3,000 and you can,
in theory, get a government grant for £400. A photovoltaic solar panel system will come in at between £6,000 and £18,000 and the Government will pay 50% of the cost. The solar water heating should meet all your requirements in the summer and half in the winter. Solar electricity is likely to meet half your needs. Wind turbines could save you more on your actual bills, up to £250 a year, but can be pricey – ranging from £3,000 to £18,000 to install: go down that route and it’ll take so long to break even you might not think it worth the bother.
Ground source heat pumps are another option. Several metres underground, the temperature is around 12˚C all year round. By using this heat you could save £750 a year and cut your carbon emissions by 5.5 tonnes. The system will cost £6,500-£9,500 and you pay more to connect it up to your heat distribution system. This will ideally be underfloor heating and water storage, which could be an additional expense if you chose to change your heating system. For heat pumps and wind turbines, grants of up to 30% are available.
Since there are so many variables (is your property suitably located for a wind turbine? Does your roof slope in the correct direction for solar panels?), you need to find out what is most suitable and cost efficient for you. In the meantime there lots of small adjustments you can make without altering your lifestyle. The “biggest single thing” is to get cavity wall insulation, says Karen Rockett. If everyone in the UK filled their wall cavities, it would save £962m worth of energy a year. It costs around £300 and it will pay for itself within two years. Next, check your loft. Insulation should be 270mm thick, and installation costs should be recouped within two years. Then your boiler. A modern condenser boiler with the right controls could save you up to £240 a year. Reflector panels (£5.98 from B&Q) behind your radiators will reduce heat loss by 10%. And there are a host of other things you can do. The Energy Saving Trust (Est.org.uk) will provide a free, personalised report on your home and claims it can save most homeowners 20% on their energy bills.
For further advice and details on grant applications, visit lowcarbonbuildings.org.uk/how/house holders/ or call 0800-915 0990.