Business and Housing

Archive for the ‘Solar Panels’ Category

The idea of making nearly £1,000 a year by taking advantage of the Feed-in Tariff in the UK, where individuals can generate their own electricity with solar panels and be paid for it is really taking off. Homeowners who can take advantage of the sunlight not only save on their electricity bills, they make money as well.

The cost of the panels and the solar panel installation is the only investment needed to get started assuming the home has adequate sunlight, usually a southern facing roof without a lot of shade is needed. Right now, solar power only contributes a very small amount of the UK’s total electricity generation but it’s expected to rise as the cost of solar panels and their installation is falling. As more companies begin to manufacture solar panels, the price continues to fall.

Government changes to the feed-in tariff are not expected to effect homeowners greatly. The upcoming reviews of the tariffs which reward homeowners, groups and businesses for generating electricity from renewable sources such as sunlight, are being done to possibly reduce payments to large scale solar installations, hot homeowners. Without the Feed-in Tariff, solar panels are not considered cost effective as it takes many years of savings to pay back the installation costs so the government is not expected to cut the rates homeowners are paid for generating renewable energy.