The perfect time to invest in your energy concerns!
The government is finally getting serious about the public’s energy concerns with the introduction of the new Feed in Tariffs, also known as clean energy cash back. This means that from April 2010 you will be paid generously for all of the energy you generate, leaving you free to choose whether to use the energy to reduce your bills or sell it back to the electricity company and thereby being paid twice. Putting this into context, based on a standard solar photovoltaic system you would receive 36.5p/kWh through the feed in tariff, a total reduction in energy bills and an extra 5p/kwh for every unit you export. This totalled over a year could be a sum in excess of £900. Compare this to the initial investment costs and you are looking at a return of around 8% per annum, far better than the returns offered by any high street banks. Looking at the potential savings in relation to the recent ofgen report stating that the cost of energy for households is forecasted to rise by 60% over the next five years, it becomes clear that turning to renewable energy could become essential to homeowners in the future.
If you have been interested in utilizing solar power in your home but have been unsure about how and when, you should act sooner rather than later, a £2500 grant is on offer by the Government to assist with the cost of installation but is only open for a short period of time.
In the coming years the cost of energy will inevitably increase, by choosing to invest now you can take full advantage of the Governments grant and the generous Feed in Tariffs by the time your friends and neighbours are dreading their next energy bill you could be safe in the knowledge that you have a sustainable and profitable energy supply.
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Tags: energy, investment, renewables