There are plenty of reasons why it is a good idea to get solar panels installed on your roof. For one thing, it means that your energy bills will be reduced and with conventional energy prices always on the rise that could be a much needed relief. For another, we need to stop global warming from coming in to full effect meaning that we need to stop burning so many fossil fuels. And more people using solar energy is one way to do that. The reason you should do this as soon as possible though, if you can, is that the feed in tariff rate is probably going to be cut considerably in the near future.
The Feed in Tariff
If you haven’t heard of the feed in tariff before, it’s very simple. It’s a government scheme whereby you get paid for each unit of energy that your solar panels produce. Which means that you get paid for the solar energy created, whether you use it or not.
If you do use it then you will be making the corresponding savings on your energy bills of course. And if you don’t use it, then it can be exported on to the National Grid and you will be paid extra for that. In this way then you are going to be making more money than if you had to rely on the savings you make on energy bills alone.
In fact, when that was the situation, before the feed in tariff was introduced in April 2010, not many people were getting solar panels installed. That’s because it would take around 25 years just to make enough savings to pay off the costs of the installation. Overall then, you wouldn’t be saving any money. With the feed in tariff though it generally only takes around 10 years to pay off the installation costs, after which you should have at least 15 years of making significant savings in real terms. In fact you will actively be making money with your solar energy.
There is a problem with the feed in tariff though, at least for the government. It is too successful. They did not anticipate so many people wanting to get solar panels after they introduced the feed in tariff. The consequence is that they are running out of money on the budget for it so a drastic reduction in the rates is expected soon.
There is set to be a review in April 2012, however some fear the change is going to have to be made even before then. Once you are on a certain rate, however, that rate is fixed for the next 25 years. In fact the only reason it is going to change is that it will go up in order to keep up with the rate of inflation.
Solar Energy UK
If you are interested in being able to make full use of the feed in tariff before the rates are cut, get in touch with Solar Energy UK to get a free quote for a solar installation.