Why are people really turning on to solar energy?

RSS Author RSS     Views:N/A
Bookmark and Share          Republish
Is it because of environmental concerns?

Is it because of the never ending energy price rises?

Overwhelmingly, our customers have told us that while these are important considerations, the single most important reason is the incredible government backed financial incentive called the Feed in Tariff. The incentive doesn’t just make the average household around £1,000 better off every year. It delivers a tax free return on investment of 8 – 10%. It’s index linked and guaranteed by the government for 25 years. Some customers describe it as a no brainer because in today’s economic climate it’s an extraordinary offer. If your bank offered to pay you even the conservative 8%, how much would you invest?

The Sunday Times is even more optimistic when it says “Given that the income is tax-free, the return on investment is equivalent to 12.9% for a 50% taxpayer and 10.3% for a 40% taxpayer, with the investment recouped in as little as seven years.”

While the Independent says “The Government has confirmed that tariffs will be paid for up to 25 years, and, as the tariffs are linked to inflation, the real rate of return could end up as high as 10 per cent.”

If you prefer the straight talking Martin Lewis, he says “The Government’s promised that the feed-in tariff payment for solar panels will run for 25 years and will rise with inflation. It’s also tax-free. So for a c.£12,000 outlay, you get back £23,000 – that's £11,000 profit.”

The environmental benefits are plain. The Energy Savings Trust says “you can cut your carbon footprint with solar electricity as it’s a green, renewable energy and doesn't release any harmful carbon dioxide (CO2) or other pollutants. A typical home system could save around 1 tonne of CO2 per year.”

We all know that energy prices continue to increase and according to the Office of National Statistics Forecasts 2010 to 2014, “Electricity prices will increase 7% per annum plus 3% inflation, during the next few years”

More and more UK homeowners are choosing solar panels for their home. The Feed in Tariff is seen by many as a government grant, it’s that attractive. Of course our customers want to save money off their energy bills, but they’re also looking to the future. They care about the environment and where they can invest their hard earned savings. With the financial markets at an all time low, the UK Feed in Tariff has presented them with the ideal answer: photovoltaic solar energy.

Reflect Energy provides cost effective solar energy for homes in the UK. Reflect Energy uses advanced Photovoltaic solar panels and Solar thermal panels. Visit the website for free expert advice on solar panels for your home

Report this article

Bookmark and Share

Ask a Question about this Article