Want to reduce your energy bills? Fed up with the national energy suppliers continually upping their costs and leaving you to pay more on a monthly basis? Then solar panels are for you, because with these very popular renewable systems you can generate your own power and even earn a fixed income with Government incentives.
But if you want to benefit from the full financial rewards of solar panels, then it’s important to have your system installed and registered before the January 1 cut-off point.
On this date, the lucrative feed-in tariff payments could be slashed, but locking onto the scheme before then would guarantee you the higher rates for two decades.
What is the feed-in tariff scheme?
The feed-in tariff was first launched in April 2010, as the Government looked to promote the uptake of renewables. It worked too, in fact becoming more successful than predicted.
The scheme pays out for every unit of renewable electricity generated with solar panels and when it first came into power, rates of 42p/kWh were on offer. However, because of the increased popularity the scheme has seen many cuts over the years and now stands at just 14.9p/kWh.
Fortunately solar panels have plummeted in cost too, so the scheme still offers a fantastic return of investment for all solar customers. The feed-in tariff alone will pay out over £500 every year if you lock on before January 1.
What else would I benefit from?
Don’t forget, that on top of this payment through the feed-in tariff, you’ll still be producing your own electricity. No longer will you need to wholeheartedly rely on the grid.
With energy prices expected to rise between 8% and 10% in November, you’ll be able to counter the hikes and reduce bills by over £100 each year. And as costs continue to rise, you’ll see an even greater saving.
Act now and install solar panels on your rooftop to start reducing your expensive energy bills, before the new round of feed-in tariff cuts come into action.