Read time: 3 minutes
We are getting many people who own often large Solar Panel and wind turbine set-ups who are interested in Bitcoin mining with their excess electricity generated and how to go about purchasing Bitcoin Mining Hardware.
The usual way people deal with their surplus energy is to sell it back to the grid, however, this is not always possible as many solar and wind-turbine installations are not connected to the national grid. There are also many people who are connected to the grid who would still prefer Bitcoin Mining as it will give better returns and give them more control.
Most renewable energy installations be it solar or wind will be connected to the National Grid, where excess electricity can be sold back to their supplier.
This is usually done in one of two ways, simple energy exporting or net metering.
This is the most common method, it means you will earn the same price per Kw/hr when exporting electricity from your installation as it costs you to buy the energy in. Despite this, the system will involve significant amounts of manual tracking and paperwork; it also demands the investment and installation of an OFGEM approved export meter. Also, if your solar or wind turbine setup was built only to fulfil your energy requirements, as opposed to exceeding them, this option can be costly.
This is more straightforward but less common. With simple energy exporting, excess energy is simply fed back to the Grid as it is generated, nonetheless, you will receive far less per unit of electricity than it costs you to purchase electricity. The result of this option can leave your overall savings marginal or even negative!
So even if you can sell your electricity back to the grid, these options could still lack a clear benefit to selling energy back. However, you may find Bitcoin Mining is not only more profitable, reliable and empowering than selling back to the grid!
Bitcoin Miners UK is interested in hearing from people who are Bitcoin Mining with Solar or Wind energy or those who are considering using mining as a way to earn money from surplus energy.
We are looking for people with renewable energy installations who may be interested in earning some extra money or Bitcoin for that matter. So please contact us if you would like to earn money by hosting our miners if you like the sound of what we’re doing but don’t want to invest in your own hardware yet.
We are soon to be publishing a guide for people who are looking to Bitcoin Mining with renewable energy so please contact us or sign up to get our guide as soon as possible.
Please feel free to Contact Us if you have any questions.
You must login to comment