Do you own your solar panel installation?
If you have had solar panels installed in your home over the last 12 months, then the answer to this question is probably no!If you do buy your own solar panels, then well done, you will be rewarded generously for your purchase over the coming years. However, if you are one of thousands of people who have another company’s equipment, i.e free panels, on your roof, then sadly you will not receive benefits as generous.
Why change the solar panel tariff scheme?
! The industrial-scale feeding frenzy, which has given rise to a number of companies who offer free solar panels, has brought the feed-in tariffs scheme to a conclusion earlier than planned.
Stuart Lovatt, the founder of Heat my Home adds “We have always championed the home owner, whom the original feed-in tariff was supposed to help while the solar industry grew to sustainable levels , but failure to legislate against free solar panel companies has ultimately led to an earlier ending of the generous tariff, in order to protect the funding pot for the long-term.
The feed-in tariff was originally designed to give homeowners the incentive to install PV (photovoltaic) solar panels to their properties. However, due to some companies taking advantage of the scheme, it has brought an end to the 43.1 pence per kWh incentive.
The scheduled reduction of the tariff rate of 15.44 pence per kWh next April has now been brought forward to protect the remaining funding for long-term sustainability of the scheme. I would also recommend extra protection of the remaining tariffs i.e one application per household and one per company only, to protect the scheme further for future customers.
The blame lies with the ‘Trade Associations’ which were supposed to protect the solar industry for the long-term, but they have failed to achieve this. Like a child with an unlimited amount of sweets, the belly ache was always on the horizon. The long suffering solar industry doesn’t need any more bad publicity, but the latest fiasco with grants shortfalls will undoubtedly bring more of it to this much needed industry.
As with most things in life, the few always spoil it for the many, and this is certainly true in this case. Owning your own solar panel system is certainly a wiser investment. One thing that will always apply where energy is concerned is the upward and progressive climb of energy prices. Energy will always come at a premium, as the days of cheap energy are well and truly over. Becoming independent from traditional sources is always going to be a good thing”
The long-term benefits of solar panels, including solar heating panels, will always be:
- A steady income year on year from the new feed-in tariffs
- Large reductions in your annual energy bill costs
- An increase in property value (if you own the panels yourself)
- A better return on investment than keeping your money in a bank account
- Extra desirability of your home if you do decide to sell. (if you own the panels yourself)
- Reduced carbon footprint
Looking forward to the new feed-in tariffs
The new improved feed-in tariff scheme will spread the available funds more fairly to the many (home owners), rather than the few (companies).
The government’s new Renewable Heat Incentive (RHI) scheme for solar heating panels will allow households to join the new era of energy generation.
Stuart concludes “The long-term stability of the solar industry has now been assured by today’s announcements, and this can only be a positive thing. I for one am satisfied that home owners across the country have had their solar panels incentive protected for the benefit of most and not just the few”.
Welcome to the new improved solar panel century!