A Government report has suggested that Solar panel feed-in tariff payments on offer to homeowners are set to be dramatically reduced by almost 90 per cent from next year and be lowered every year after that, making the investment questionable with this latest solar tariff drop.
Current returns for a £7,000 solar panel installation on a home in the South West could be £725 per year including energy bill savings or £590 without, according to Energy Saving Trust figures.
As an investment proposition this works out as an 8.4 per cent annual return in payments or a 10.4 per cent including energy bill savings but this is all set to change from January 2016 and these cuts would push this down to 2.3 per cent from January 2016, excluding energy bill savings, or 4.2 per cent if these were included, making the idea of purchasing Solar as an investment not as attractive as it was, even though the cost of solar has come down 70 per cent in the last five years and recent research suggests that 80 per cent of the British public supports solar power
Here is an look at how it could look in the years ahead.
We are able to help you with a solar quote get in touch today before you lose the opportunity to take advantage of the current scheme.
