Solar Feed In Tariff Website

An article published in the Financial Times last week has vividly highlighted just what effect the recently introduced feed-in tariff has had on the UK solar industry. The news that record numbers of people have decided to install solar panels is largely due to the feed-in tariff legislation which offers installers a healthy return on investment, off-setting the costs of buying and fitting the kit.

The figures published in the FT last Tuesday taken from Ofgem state that this month alone, more than 2,200 homes have fitted solar panels compared to 1,700 last month and 1,400 in June. Indeed, with figures that more than 6,600 households have installed solar panels since the introduction of the tariff system it is good evidence that this incentive scheme could herald the beginning of a boom in the UK solar industry.

Unsurprisingly, The Financial Times paid particular emphasis to the obvious financial rewards associated with solar installation rather than environmental benefits. With the case example of John Keown, a company director who invested in solar through a scheme offered by British Gas, a good case was made for the long term viability of solar PV projects.

Keown will be set to reap the benefits of solar energy installation with expected returns of £1000 per year through savings on electricity bills and revenue from the tariff. Keown for example has estimated that since he installed his solar panels in April he has made £289 from the feed-in tariff. He stated,

“I haven’t gone into self-produced energy to be green. I’ve gone into it because I think it’s a good financial saving, perhaps even better than having an Isa account.”

Certainly, it seems to be growing in the public consciousness that the installation of solar panels to households is more than just a green fad or something which can bring about negligible carbon footprint reductions. The high rates of return which can be achieved through solar panels is likely to attract investors exponentially in the future as word catches on that sourcing and installing a solar system doesn’t have to be painful process.

Following their announcement that they would be giving away free solar installations to households across the UK, it is perhaps unsurprising that energy firm, Homesun have received an unprecedented level of inquiries.

The offer will include both a technical survey to ensure that the property is suitable for solar panel installation and of course the actual installation, taking away the initial start up costs which often act as a deterrent to potential renewable installers.

100,000 systems will be given away to homeowners with south-facing roofs meeting the requirements of the survey, allowing them to enjoy all of the benefits of a solar panel system without having to outlay all of the initial costs associated with solar technology.

Solar panels could save homeowners up to 40 per cent on their electricity bills with estimates that a typical 3 bedroom semi could save up to £250 a year, with the added benefit that homes with solar panels installed fetch a higher price on the market than comparative properties without. A spokeswoman for Homesun commented,

“There’s real excitement about what we are doing. This just goes to show the latent demand for solar amongst the British public, they just needed to find a way to access it. Solar now makes perfect sense. I am proud HomeSun is leading the charge to take solar mainstream.”

Homesun have already announced that since the release of their offer, they have received 7,000 calls and have had 10,000 people log onto the Homesun website. Talking about the unprecedented level of interest, Chief Executive of Homesun David Green said,

“The phones have been absolutely mental and it’s put huge pressure on our website. We were not anticipating such enormous demand. It’s clear that for the first time, we have allowed renewable energy for residents to break through.”

Homesun’s offer has been made possible by the introduction of feed-in tariffs, government legislation introduced in April 2010 devised to increase the take up of renewable energy generation. The tariff works by offering premium, guaranteed rates for both the energy used and the units of energy fed-into the national grid from the renewable systems.

Homesun will therefore be able to recoup their initial investment and subsequently make a healthy profit on each installation. Homeowners will be given the opportunity to buy the tariff contracts from Homesun in the future but it is more likely that most will simply opt to make savings on their bills.

With offers such as Homesun’s making an impact in the media and the building of consciousness about the feed-in tariff, it is very likely that before long the market will be jam packed by suppliers offering very similar solutions