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UK: Can An Electric Car Cut Solar Panel Payback Time? Yes, But…

If you’re a homeowner with a suitable home and enough money to invest in a set of photovoltaic solar panels for your roof, you can easily power your home cheaply and cleanly.

But while some states offer Feed In Tariff (FIT) schemes to let you sell back any excess power your solar panels generate to the local utility company, payback times on solar panels remain pretty high. FIT schemes are also known in some areas as “reverse metering” after older installations where the electricity meter spins backwards when power is fed from solar panels back to the utility grid.

Now a U.K. utility company has released data detailing how owning an electric car could reduce the payback time on solar panels to under 5 years.


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