The UK Government introduced feed-in tariffs to encourage the installation of renewable energy systems
like solar PV/wind power etc. And for a while it worked with predictions that by 2020 there would be:
The tariffs offered premium prices for the renewable electricity generated by the systems, paid directly to the producer by the energy companies. Up to 41.5p/kWh for Solar PV systems.
However, since then these rates for Solar PV have been slashed – which has had a significant effect on the rate of return for an array on your roof.
Its not all doom and gloom
the situation is changing in response to the quickly dropping cost of domestic solar panels so an investment in a PV array can still be a good one.
New technology is coming through for domestic battery storage and converting wasted energy into heat which may change the market considerably. Contact us to discuss your options in more detail.