LONDON, UNITED KINGDOM--(Marketwire - April 13, 2012) - As long as you have an energy efficient home, with the current 21p/kWh rate which is now guaranteed for solar panels you'll:
- Have reduced installation costs
- Generate free electricity for your home
- Receive a fixed income of around £500 annually for 25 years
- Earn a 10-15% return of investment
- Export excess energy to the National Grid
- Be producing carbon-free electricity
It has been a tough few months for the solar industry, but after the Supreme Court guaranteed stability by rejecting the Government's appeal, homeowners are guaranteed a long-term income.
But the current feed-in tariff rates, which affect how much profit homeowners make with solar panels, are in danger of being cut once again in the summer. The Government has already released plans to cut the tariff from 21p/kWh to between 16.5p and 13.6p on July 1, depending on the popularity of solar throughout 2012.
But installing now will guarantee the higher rate for 25 years.
With the reduced costs of solar panel installations over the last 12 months, solar has become an affordable investment to reduce your energy bills throughout the year.
Energy expert Julia Davenport believes it's a good time for solar panels with the stabile future.
She said: "The rate changes proposed for solar PV are a reflection of the well-known problems with the FIT budget and it will take time to fully digest what they mean. The important thing is we now know how tariffs are going to change in future, helping give investors greater certainty."
The news of the Government's failings in front of the Supreme Court was met with excitement from the solar industry, who had been challenging the feed-in tariff cuts for several months.
Solar companies and environmental groups both praised the court's ruling, as it meant the Government couldn't get away with making unlawful cuts in the future. The decision also gives stability to the solar industry and ensures the longevity of the feed-in tariff scheme.
The Government's court defeat means:
- Efficient properties are guaranteed a 21p/kWh feed-in tariff rate if their solar panels are installed before July 1
- This rate would apply for 25 years from the date of installation
- Delaying until after July 1 could result in you receiving a solar panel tariff rate of between 13.6p and 16.5p/kWh
Jeremy Leggett has praised the Supreme Court's decision and said: "The Supreme Court has today confirmed that the Government simply has no grounds to appeal the decision that its handling of solar feed-in tariffs was illegal.
"This final step in the legal process has wasted much needed time and money and now we, the renewables industry, simply want to get on with creating our clean energy future. Renewables can only play the pivotal role necessary to deliver a new green economy if we have a stable market and investor confidence backed by lawful, predictable and carefully considered policy."
Installing solar panels will reduce your annual energy bills and cut your property's carbon emissions. Installing now will guarantee you great returns on your investment, so find out how little the installation cost is with FREE quotes from vetted, reputable companies.
For more information and see use at http://www.allrenewables.co.uk.