Energy and Climate Change Minister Greg Barker perhaps hasn’t hit the limelight in the same way as his predecessor Chris Huhne. After all, who could forget the speeding ticket fiasco with his wife, which led to the former Minister resigning from his position?
But whilst Mr Barker lacks attention from the public eye, he is certainly doing his fair share of the work to promote renewable energy and ensure it’s a viable prospect for homeowners.
In fact, recently in an interview with the Daily Telegraph he commented that solar panels were a better investment than traditional pensions.
But is this really the truth?
The funny thing is, in a way the Minister may well be right. After all, with solar panels not only are you making savings to those expensive energy bills, but you’ll also be earning a guaranteed income with the Government’s feed-in tariff.
In fact, you can save and earn hundreds of pounds every year for more than two decades. That puts a stop to your National Grid ties and ensures you’re producing electricity that isn’t going to cripple your finances.
Energy minister Greg Barker said: “You get a guaranteed tariff for 20 years and if your panel is well-sited, it could yield 8% or more. That is more than an annuity, particularly if you are in your 50s or early 60s.”
When you compare the state of the solar industry now to 2012, when there were cuts being made to the incentives, it’s easy to see that it’s a growing market. There were all sorts of shenanigans a few years ago with the industry taking the Government to court, but now the matter has been cleared up, everyone can enjoy cheaper electricity for the future.
There are thousands of installations being completed every month and people have started to switch onto the fact their energy bills won’t become cheaper by just sitting there and not being proactive.
Facts & Figures You’ll Love To Share
- [tweetable alt=””]With solar PV you’ll generate free electricity whilst earning a lucrative earning with the Government’s feed-in tariff.[/tweetable]
- [tweetable alt=””]Solar thermal panels help to heat hot water and benefit from the Renewable Heat Incentive payment for seven years.[/tweetable]
- [tweetable alt=””]Solar panels will last for 25 years and more, providing decades of savings and earnings and helping to avoid the National Grid rates.[/tweetable]
- [tweetable alt=””]Energy prices have doubled since 2004 and solar panels offer an escape from the clutches of the UK’s large energy suppliers.[/tweetable]