Solar Panels Installations Surge in UK - Homeowners Benefit From Feed-In Tariffs
Considering that the last year was the year in which the Government's Feed-in Tariff (FITs) scheme came into effect, this is perhaps not quite the shock you might initially think it.
In fact, according to The Guardian, "The lure of making nearly £1,000 a year has led to a record 11,314 people, largely homeowners, installing solar panels in the first three months of this year.
" Given the impressive rewards of the FITs scheme it looks likely that this rush for solar energy will continue over the next few years with more and more homes eager to take advantage.
These recently released figures are a red letter day for solar energy, especially after the Government's FITs review earlier this year.
Domestic installations are likely to remain on the same tariff and, with the majority of the new installations being small and domestic, it is likely the surge will continue during the next few years as more and more homeowners become aware of the benefits of the FITs scheme.
Why are homeowners so interested in Solar Power? One of the main factors causing so many homes to flock to solar power is the attraction of the Government's FITs scheme.
The scheme guarantees homeowners who have installed solar panels payments based on the energy they generate over the next 25 years.
These payments are, of course, in addition to the savings you would already make by using your own electricity rather than buying it in from an external company.
The FITs scheme is made up of two elements: · Generation tariff - this is a payment you receive for each unit of renewable electricity your solar panels generate, regardless of how (or if) that energy is used · Export tariff - the export tariff is a bonus amount you receive for each unit of electricity you then choose to export into the National Grid to be used in other homes The amount you receive is guaranteed through a contract with energy companies (through whom you are paid) so regardless of changes in Government policy, you will still receive your full payments.
However, for new entrants onto the scheme, the amounts are likely to decrease by around 8.
5% each year after April 2012 so if you're looking for an investment, it's better to join the scheme sooner rather than later.