Are Solar Panels a Good Money spent?
Solar photovoltaic panels were recently featured in an expert UK guide, which detailed the different ways to obtain solar panels for your room. Buying a solar panel system can be expensive, with an average array costing in the region of 11,000. It is therefore important to understand that they may provide a substantial return and for this reason should be seen a great investment.
Solar panels, once installed, will provide you with free electricity which you can use in your the location of power your things. By using this electricity you will lower your energy bills by buying less from your supplier. You additionally protect yourself against future energy price rises. As the price of electricity continues to rise, your savings will be bigger.
By using the renewable electricity caused by your photovoltaic panels, you are also making an investment in the future as you are reducing your carbon emissions. By not buying electricity of your respective energy provider that comes from burnt fossil fuels, you helps to reduce your carbon footprint and help the environment.
The Feed-in Tariff
The Feed-in Tariff makes solar panels a smart investment. Introduced in April 2010, the government-backed tariff was made to incentivise the uptake of solar photovoltaic (PV) technology to lessen country's carbon emissions. Having proved successful in countries such as Germany, Spain and the Czech Republic for incentivising solar PV, the Feed-in Tariff (FiT) ensures that the energy provider pays you for each unit of electricity that the system generates, even when you use it all in your own.
However, the solar array will usually generate more electricity than you can use and will therefore export the surplus into the national Grid other folks to reap the benefits of. You will be paid extra for that electricity can export.
The FiT makes pc solar panel array worthwhile, as the installments are guaranteed for 25 years, tax-free and index-linked. They give a great revenue. Although the average domestic system will cost eleven thousand pounds, the Feed-in Tariff means that it will pay for itself in ten years. The payments are guaranteed for 25 years or so and once the system has paid for itself, the continued payments are pure proceeds.
On average, a domestic solar PV system offers an 11% rate of return on investment, and nearly 4 times what gonna do it . money could earn from a savings account or an ISA.
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