Government Funded Solar Panels
The government covers the installation of solar panels with the Feed in Tariff scheme.
What is the Feed-In Tariff?
Feed-in tariffs are payments made to energy users for the renewable energy they are able to generate. Feed-in Tariffs (FIT's) are used to encourage people to create "green electricity". The Dpeartment of Energy and Climate Change (DECC) replaced the existing solar power grants scehem with the FIT rules in 2010. Under the grant system, homeowners had to meet substantial criteria before their solar panels could be approved.
How much does the Feed in Tariff pay?
The Feed in Tariff in the UK currently pays 4.18 pence per kWh of energy produced, even if you use the energy yourself.
The energy from your solar panels provides guaranteed, tax-free incomce and is underwritten by the government for 20 years.
FIT payments are index-linked - they will always stay in line with inflation. You will also reduce your energy bill and your carbon footprint with solar panel installation.
Benefits of the Feed-in Tariff Scheme
The Feed-in Tarrif scheme:
Allows You to save electricity from your supplier.
Pays you for electricity even if you use it yourself.
Guarantees a 20 year tariff life with 30-40 year panel life-span.
Provides a Tax free and index linked income.
How much will I earn?
Whether or not you use your solar energy, You will be paid a guaranteed amount. The average time to recoup an average investment of £5,500 would be around 8-12 years. On a solar scheme with a 30-40 year lifespan, that is an incredible long-term investment.
Reduce your household energy bills, and enjoy a 5-8% annunal return with FIT scheme.