The DECC has announced that the tariff issued for PV installations of 4 Kw or less will now be 22 pence per unit UNTIL 30th June 2012.
Unfortunately due to the sudden growth in the solar panel industry over the last 12 months, greater numbers of PV systems have been installed in a shorter time frame than expected.
This is no different in Swansea’s solar panel (PV) industry.
Government figures suggest that initial targets have been breached very quickly because of home owners and businesses taking advantage of the very generous Tariffs that have been available.
The new tariff rate of 22 pence is also very attractive. This new rate will still present an excellent financial return that will amount to about £850 / year for an outlay of roughly £9,500.00. At present there is no bank in the world that will provide a return of that nature, and do not forget…….. as well as the £850.00 tax free for 25 years, you also get to use that electricity for free which means your electricity bill is greatly reduced. (A 4 kw system should half your yearly bill)
Also….the tariff is index linked with inflation which means that every year the tariff will increase slightly. (Usually by 5%) So too will the cost your energy supplier charges you for electricity. politika The more expensive electricity becomes to buy…..the greater the savings from your solar panel system!
For more info on this subject check out D.E.C.C. web sites. (department of energy and climate change)