The British Feed In Tariff
Energy prices have risen drastically over the last few years, and are predicted to rise even higher over the next decade. Alongside this people are increasingly searching for an alternative to nuclear power, so they can power their homes in a more environmentally friendly way.
If you want to reduce your CO2 emissions, then solar PV panels can offer a realistic alternative to nuclear power to power your home or office. Due to the huge reduction in energy bills, having solar power already installed in your home can add 1% to the selling price of your home.
So what are the financial benefits of using solar power? Installation and purchasing are the only costs you’ll incur to set up your solar power source. The panels themselves require very little upkeep. They can reduce your energy bills by a huge amount, by allowing you to generate your own power by harnessing the suns light and radiation.
There are even more financial benefits to using solar power, thanks to a new tariff introduced in April 2010. Called the UK Feed-In Tariff, it offers solar users across England, Scotland and Wales the chance to earn cash back. Basically, you will be paid for all of the energy you produce through your solar PV panels, whether you use it all for your own needs or not. And since solar power is more expensive to generate than nuclear power, you will be paid at a higher rate than the utility companies.
If you sell your unused energy back to the national grid you will receive 44.3p for every unit, and for the energy you use yourself you can expect to receive 41.3p. Investing in solar power is very worthwhile. It can allow you to reduce your running costs, reduce your CO2 emissions, and make money, regardless of whether you use all of your energy or not.
Find out more about the UK feed in tariff rates
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