Solar still a good investment

The Feed-In Tariff rate to be paid for solar installations is to set to change to a new rate of 4.39p/kWh. This will be paid from February. For householders the return on their investment would equate to around 5% tax free. This is higher than on any savings accounts of today which are paying interest at a record low.

Paul Barwell, CEO of the Solar Trade Association said:

“Let’s be clear; solar is still a good investment for householders and an essential investment for the planet. Costs have come down so fast solar is much more affordable today than five years ago – around half the price of a new car. There has never been a greater need to go solar because acting on climate change is more urgent than ever. Solar will save on your energy bills, and potentially add value to your home.” Householders can also seek to maximise their return by efficiently using their power output from the system. This could include using timer functions and running appliances during the day.

Installers are recommended by the Renewable Energy Consumer Code as an agreed standard, i.e. a workmanship warranty backed by insurance.

Barwell continued:

“The changes to the solar feed-in tariff are significant but solar technology is exceptionally reliable and attractive and the solar industry has proved itself to be the best energy sector in the world at bringing down costs and developing innovative products. We know that solar power is the UK’s most popular energy technology and we are confident that, while solar may be less financially attractive than previously, we remain on track and determined to deliver a solar revolution that will benefit everybody.”