bemoreeco

If you’re really serious about going green, then generating your own electricity isn’t as difficult as you might think. Traditionally, energy was cheap and solar panel technology couldn’t meet the challenges. Worst, it was a massive capital expenditure which most typical families couldn’t afford.

But now it’s changing.

First, there is a wider range of technology available now which can generate electricity for homes. There are better wind turbines, solar thermal systems, hydroelectric power, biomass boilers and even ground source heat pumps. You can see how they all fit together with your home here.

Today, there are also banks and loan schemes which finance the capital needed against the money you can generate. Even better (and this is the most important thing), the government has announced schemes which will allow homes generating their own electricity to sell excess electricity back to the energy grid. Effectively, you could make a tidy profit and recoup your money quite quickly.

The most telling quote is in John-Paul Flintoff’s article for The Times about homes which generate their own electricity, it reads as follows:

Haward calculates that a 50kW hydro-turbine, which costs about £200,000 to install, would generate £34,000 of electricity a year. Such a potential income stream, he believes, should add £300,000-£400,000 to the value of any property. “That’s quite a big turbine,” he says, “but even at half the size, you’re going to be putting £200,000 onto the value of the property.”

That’s a nice sum and certainly a worthwhile investment. This isnt to say you should rush in, it is a big investment and a major commitment to make. Not all homes can use it, and those living in rented properties or in shared properties (flats, apartments etc) will struggle to make this happen.

However, if costs or concerns about it’s efficiency were your primary reason for not living ‘off the grid’, it’s time to think again. It could be the best way to increase the value of your property.