Join the PV solar panel gold rush of the 21st century
Last updated on November 2nd, 2017 at 11:33 am
“If you are reading this, you are very lucky. You could live in one of the many thousands of homes which could benefit from a window of opportunity called the feed-in tariff scheme for solar panels.”
Introduced in April 2010, the scheme was designed to kick-start the solar panels industry in the UK within the domestic and commercial sectors. The feed-in tariffs are divided into two sections and are known as the ‘Clean Energy Cash Back Scheme’ for PV (photovoltaic) solar panel technology and the ‘Renewable Heat Incentive Scheme’ for the solar heating panels and heat pump technology.
So why are you lucky? Well, there is only a small window of opportunity to receive the maximum feed-in tariff rate, which is currently at 15.44 pence per kWh of power generated (even if used)and 43.3 pence per kWh if exported to the National Grid.
This current, maximum rate will only be available to homeowners until April 2013 but may end sooner if demand for the scheme becomes too high. Current adoption rates for solar panels suggest that the scheme is becoming successful, and the maximum rate may be lowered before the original 2013 date.
Stuart Lovatt, the founder of Heat my Home, adds, “The way the world is going, solar panels will eventually come into common use as a way of reducing dependence on high energy costs, and so it will only be a matter of time before most homes adopt the technology, probably within a decade. What people have to decide is whether to install as soon as they can, and take advantage of the maximum rate feed-in tariff, which gives a much shorter period to pay for itself, or install later, out of necessity, and receive the much lower rate of a tariff which later adopters will get.”
The tariff rate is anticipated to be 34.4p, then 25.6p, until it falls to 21.5pence per kWh over the coming years.
Buy for your own solar panels
An average PV solar panel system can cost upwards of £12,000, however, over the 25-year time scale of the feed-in tariff scheme, you could make a profit of 100% by earning over £1,030.00 per year from the scheme, making it a better investment than keeping your money in the bank. Apart from the green ecological aspect, you will save over £90 per year on your energy bill, and find that your home increases in value.
This method is the preferred method for most homeowners. We will always recommend that you take advantage of the feed-in tariff for yourself.
Free solar panels offers
If you don’t have thousands of pounds to spare, then there is another option.
Free solar panels available through the new FIT Scheme means that a solar company can install free solar panels on your roof. You may benefit from lower energy bills if you use your home during the daytime hours, however, if you don’t, then this benefit will be smaller.
Companies who offer these free solar panels will undoubtedly collect your feed-in tariff payments instead of yourself and rent your roof space for the privilege. Please beware, however. If you decide to sell your house anytime within the 25 year period of the tariff scheme, having another company’s solar panels attached to your roof, which cannot be part of the sale, may put off any potential buyers.
With this method, it is only advantageous if you work from home, or are at home during the day or the benefits of the panels will mostly go to the solar company who owns them.
Stuart Lovatt concludes, “Various options are opening up to you and your family, enabling you to take advantage of the new green energy industries currently opening up in the world. I feel lucky to be a part of such an exciting new energy world, and you, the reader, could feel lucky to be able to pioneer and benefit not only financially, but morally also, especially while the benefits are so good to new adopters.”
Lots of solar panel adopters who have already taken the plunge always feel a sense of pride of being one of the first. Be the first on your street!
"Feel the pride."Stuart Lovatt September 5, 2011
Founder of Power My Home.