Solar panels are better than your bank account
Last updated on October 9th, 2017 at 07:05 pm
“An uncertain world has made investing in stocks and shares a risky business and also the reason you are getting such a low rate of return on your savings (0.1– 4.0% max) right now, but there is a way to get upwards of 8-10% rate of return on your money with solar panels.”
Yes, you did read correctly! Solar panel installations are very popular right now, for one big reason. People are re-investing their low return savings funds into higher gain solar panel installations to make more money, the concept of which, before the credit crunch, would have been laughable, but the world is changing and changing fast.
- No longer do we have plentiful amounts of cheap energy to squander.
- No longer are our banking institutes seen as safe houses.
- No longer are stock markets seen as an easy gamble.
- No longer can we keep burning fossil fuels without serious environmental consequences.
- No longer can even large countries pay off their debts.
Why solar panels?
Whether we like it or not, we had reached a point in time when the established, infallible institutions that we depended on in the 20th century are no longer able to give us the stability which our modern society needs to function – but what has all this got to do with solar panels?
The 21st century is only in its first decade, and already huge shifts in attitude towards the way we run our society have changed, and an example of these changes can be seen with ‘ green energy’. Not only solar panel, but heat pumps and other types of micro generation (small scale) systems are being adopted as the green alternative.
The bottom line, when investing in solar panels is-you will get much better returns on your money than leaving it in your low-interest savings account right now.
This is not company sales patter but a real government-backed incentive scheme, called the feed-in tariff, which rewards people who install solar panels to their home, business or farm, and it offers a greater rate of return than any non-Swiss bank account.
Stuart Lovatt, the founder of Heat my Home, adds “The earnings don’t even take into account the other benefits of solar technology, which include the savings on your annual energy bills, the increase in your home’s value after installation and the pure satisfaction you get from reducing your CO2 levels and making the neighbours jealous!”.
Feed in tariffs
Often we are asked why people should install today and not tomorrow, and the answer is always the same. The feed-in tariff concept is designed to reward the early adopters the most and later adopters the least.
The rate of the feed-in tariff currently stands at 15.44 pence per kWh (for the power used by you) or 43.3 pence per kWh for any excess which is exported directly to the National Grid. These figures are guaranteed for 20 years. However, for people who install later, these figures will be lower.
High global demand for solar panel technology
Another issue, which seems to be on the horizon, is global demand, not only for fossil fuels, as China and India continue to take a lion’s share of the increasingly dwindling supplies but for solar panels too.
Another sharp spike upwards in energy prices will mean everyone (globally) will want solar panels at the same time, quickly meaning a shortage of panels and the skills needed to install them in so many homes at the same time. This will mean that prices will rocket and many people will have to get by without adequate heating or power.
Stuart continues, “A vision that I and many other energy industry analysts fear is a shock wave of unaffordable energy pricing caused by an unexpected supply chain problem or catastrophe. As a young Cub Scout, I was always taught to “Be prepared” and “it’s best to have, just in case”. I still believe this to be true, whether with pen knives or solar panels.”
A lot can happen in 20 years, as the 10 year anniversary of the Twin Towers now shows. In a world in which not even governments are secure, we can see that installing solar panels, which will reduce your dependence on expensive fossil fuels and earn you more money than your bank can give you, is a real no contest as a long-term investment opportunity.
"Feel the pride."Stuart Lovatt September 14, 2011
Founder of Power My Home.