Solar panels are one of the most popular renewable energy solutions in the UK, partly because of the government’s Feed-in Tariff (FIT), which pays you for every unit of electricity you generate. But this is set to change.
In August, the Department for Energy and Climate Change (DECC) proposed to cut the Feed-in Tariff by 87% from 12.47p to 1.63p in January 2016. But after a huge backlash from the solar industry, it now looks like the cuts won’t come into effect until March 2016.
Time is still running out to benefit from the Feed-in Tariff. The recent trend has been that the payment per unit of electricity generated decreases every three months, so we should still expect a lower payment in January.
Act now to benefit from the higher rate of FIT. There are so many reasons to go solar before the end of the year:
1. Earn up to £11,400 from the Feed-in Tariff
Get a tax-free income for 20 years with the Feed-in Tariff. Not only do you get paid for the energy you generate and use, but you also receive an export payment for the energy you send back to the grid. Plus, the payments rise in line with inflation.
2. Stop your dependence on large energy companies
Energy prices continue to rise, and with solar panels you can protect yourself from the price hikes by generating your own electricity. Stop paying the big energy companies and get paid by them instead!
3. Save up to 50% on your energy bills
You can cut your bills in half by using solar electricity – the electricity you generate from your panels is completely free.
4. Reduce your carbon footprint
Since the electricity generated from your solar panels is energy from the sun, it doesn’t produce any harmful carbon emissions, helping you do your bit for the environment.
5. Add value to your home
Buyers are looking for properties with solar panels already installed, so you can increase the value of your home.