Total Annual Benefit
Payback on Investment
Estimated 20 year benefit
Payback in 5 years
Electricity savings per year: £2,500
FIT Payments per year: £3,500
Return on investment per year: 19%
Total Annual Benefit – £6,000
Scarborough Rigby Club save around £2,500 per year by using the electricity they generate with their solar panels rather than buying it from their energy supplier. In addition they attract a £3,300 feed in tariff for the energy they generate – regardless of whether they use it or not. The feed in tariff is part of the Governments Green initiative, is tax free and guaranteed for 20 years.
At these rates it is expected that the initial investment of the solar panels will be paid off within the first five years leaving the Rugby Club with 15 years of guaranteed tax free income.
Richard Appleton, Scarborough Rugby Club