Why the latest DROP in the Feed-in Tariff is a good thing…
…but why you should also act quickly if to get the best deal
Usually, when we have an announcement that the Feed-in Tariff (FiT) is lowering again (next drop will be on 1 April), groans can often be heard from the solar industry, as the perception is that lower tariffs will mean less people wanting solar systems. But recent history is showing that isn’t the case.
Solar is more popular than ever
The fact is that tariffs are dropping because solar panels are so popular at the moment. In truth, they have never been in more demand.
For the domestic FiT to drop, legislation says that more than 100 MW of solar PV systems has to installed on houses in the previous three-month period. What we saw in the final three months of 2014 was 124 MW being installed, which makes it the first time the UK has ever topped the 100 MW mark. This is an excellent achievement, and shows that even as subsidies lower,increasing numbers of householders recognise that renewable energy can lower bills and reduce reliance on the big energy companies.
It’s been the same story for larger commercial systems (over 50 kWp) too, which also had record installation rates at the end of 2015.
Solar is 65% less expensive than four years ago
In the past four years, while FiT levels have dropped, so has the price of panels and components, so a fully fitted system for a house has dropped from around £20,000 in 2011 to as low as £6,000 today for a high-quality installation.
So, while you’ll still be able to get an excellent return on your investment later this year, the ideal time to get a system installed – if you want to make the most of the financial returns – will be before 1 April. Please feel free to contact us now () for a quick response before the deadline gets too near.
Also in this month’s SunGift News, we ask the question ‘Do you know how to find a reliable solar installer?’,we put the spotlight on a video of luxury zero-carbon homes, show you how Clive Mitchell is enjoying the ‘outstanding’ beef hamper he earned for referring us to his family, and how farm-based businesses can ‘pick our brains’ at Westpoint arena.