Solar panel installations do make sense
Last updated on June 6th, 2017 at 12:31 pm
“Installing solar panels now make complete economic sense with an 8% return on investment, but why would you want to install this technology into your home with such a big financial commitment?”
The Government are encouraging homeowners and are really pleased to be able to establish solar panel installations as a mainstream technology, using their new feed-in tariff schemes.
Under the feed-in tariff schemes, domestic and small and medium–sized commercial, business owners, who generate heat or electricity from solar panel technologies, will receive extra annual payments from their energy supplier based on how much energy their solar system generates.
The larger the installation, the bigger the payments, which come with tax free and are index-linked to a maximum of 20 years (for PV solar) or 18 years (for solar heating).
Recent advances in solar panel technology in Germany, with a similar climate in the UK, now leads the way globally and has developed massive increases in efficiency, making solar panels a serious contender to reduce our dependence on expensive and increasingly unreliable energy sources.
Stuart Lovatt the founder of Heat my Home, adds, The cost of generating domestic energy, especially from micro generation systems, has steadily fallen over the last couple of years, while the projected cost of constructing new nuclear plants has ballooned, thus making solar a credible way for families and governments to reduce long-term energy costs.
Solar panels for an energy hungry world
It is obvious that no single energy source is the Holy Grail for the energy problems we face, but the UK especially needs a mix of low carbon energy sources and solar technology has the ability to be deployed immediately compared with the time lag and costs for building of new and controversial power stations.
The Government has been already behind a progressive solar building program with its feed -in tariffs which we calculate over 16GW can be installed by 2020, still small compared with Germany which will be over 40GW, but a necessary small step in the right direction.
With the financial motivation now in place, a few solar companies were quick to offer free solar panels to homeowners, providing cheaper electric but not benefiting from the feed-in tariff payments.
We do not recommend these types of installations, because you the property owners will not receive the feed-in tariff payments and will be contractually tied to renting their roof space to a company. Selling your home in this type of situation may be problematic.
Once your choice of solar technology is made, installation can begin.
The solar installer will manage the whole process from start to finish and control the project timeline, which can be up to 3-5 days depending on the size of the system installed. Planning permission (if it is required), the allocation of labours, feed-in tariffs registration and commissioning of the system all need to coordinate together to ensure a seamless solar installation.
We recommend energy aware homeowners embrace this increasingly valuable technology.
"Feel the pride."Stuart Lovatt May 5, 2011
Founder of Heat My Home.