5 Reasons Why Solar is Still a Good Investment
Solar panels are one of the most popular renewable energy solutions in the UK, and it’s not looking like this will change in the near future.
Although the government has recently decreased the incentives available for solar panels in the form of the Feed-in Tariff scheme (FITs), there are still plenty of benefits to going solar.
Earn from the Feed-in Tariff
Since 2010, the government has paid homeowners with solar panels for every unit of electricity they generate through the Feed-in Tariff scheme (FITs). In recent months, the amount you can earn has been cut, but as the cost of installation falls FITs still provides a worthy income.
You can earn £4,940 from solar panels over 20 years. You are paid 4.39p/kWh for every unit you generate and use, but you also get 4.85p/kWh for every unit you export back to the grid. The money is tax-free and rises in line with inflation, so you will make a healthy investment.
Costs of installing solar panels are decreasing every year
The costs of installing a solar panel system are at an all-time low, with prices only expected to keep falling by 10% each year. So it’s worth installing now while you can earn thousands and benefit from super-low installation costs.
Save 50% on your energy bills
The electricity you use from your panels is completely free, so you can save a huge 50% on your energy bills by using a renewable energy source. You’ll also protect yourself from the rising costs of energy from the ‘big six’ energy providers, and stop being dependent on them.
Get a solar battery to increase savings
Batteries are the way forward in renewable electricity technology. Lots of companies offer deals for battery and panel install, so get one with your system and cut your bills by an extra 15%. You’ll hardly need carbon-intensive electricity at all!
Increase the value of your home
Lots of homebuyers don’t want to have to install panels themselves – add value to your property by installing them before you sell up.