Sales of solar panels go through the roof in August
September 1, 2010
For many, August will be remembered as the month of record low temperatures and leaden grey skies. Paradoxically, for solar panel installers, it was their brightest month ever with record sales to households according to the energy regulator Ofgen. The success is largely down to a government scheme that rewards households who generate their own energy.
The feed-in tariff system enables households to receive 41.3p for every unit of energy they generate regardless of whether they use the energy or sell it to the National Grid. After the panels are installed, the tariff is paid for 25 years and increases in line with inflation.
According to the Energy Savings Trust, solar panels cost between £6,000 and £12,000 to buy and install depending on their size. The Trust calculates that a typical installation could generate about £700 a year from the feed-in tariff as well as saving the householder about £100 a year on energy bills. In addition to this, people could make about £25-£30 through selling unused energy back to the National Grid.
With energy prices expected to go through the roof, such an investment backed by government funding may well be worth considering. If you have installed solar panels or have taken advantage of the feed-in tariff system, please let us know your opinion.
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9/3/2010 6:34:05 AM
,Andrew Davis says:For me, the biggest question mark I have against installing solar panels on my property is the payback period and how I as the individual would be expected to fund that. Given the government incentive of the feed-in tariff over a 25 year period, this makes this a far more realistic and attractive option.