The purchase of solar panels has become more popular recently, both as an investment for savers wanting to make their money work more efficiently, and for home owners who wish to reduce their reliance on escalating energy costs.
Solar panels are increasingly being adopted by business entrepreneurs and SME’s (small to medium-size enterprises), not only to reduce the long-term expenditure on higher energy costs, but to help re-brand their businesses as green.
Solar panel investments are popular because switching to renewable energy sources pays off in the long-term with the feed-in tariff scheme, which typically nets, on average more than £, 1000 per year over 20 years.
These payments are tax free and are guaranteed for 20 years. However, there is only a small window of opportunity to receive this higher rate of tariff, as the scheme is expected to lower the rate after 2012 to later investors of the technology.
The feed-in tariff is expected to pay the initial cost of installing the solar panels back within 10 years, but be aware of solar companies who sell these technologies under false representation, claiming that they pay for themselves within much shorter time spans. Once the panels have been paid for, you should then receive another 15 years of pure profit and free energy to use within your establishment.
The scheme itself had to be capped to 50 kWh systems recently, because the rush of investors wishing to install huge solar panel farms puts the scheme in jeopardy. The scheme is now refined to accommodate domestic and small-scale commercial enterprises only, with the maximum rate of 15.44p and larger installations over 150 kWh receiving a tariff rate of 15p per kWh generated.
Despite this cap, the popularity of solar panels has not diminished with farmers or city investors. Farmers have really embraced solar panel technology and the benefits that it brings as a new source of revenue.
A solar powered gold rush
There has been the disappointment that the feed-in tariff was capped, but farmers, hoteliers and other commercial establishments are still keen to go ahead with system sizes larger than the 50kWp cap level.
Stuart Lovatt, the founder of Heat my Home, adds “The perpetually rising costs of energy are being felt both by domestic and commercial users. Both demographics are searching for ways that will protect them from this almost yearly occurrence.
An investment in solar panel technology will give your business a greater return than keeping money in its accounts, as well as reducing your overall long-term costs and showing your customers that you care about the environment.”
"Feel the pride."
Stuart Lovatt on
Founder of Heat My Home.