Sunday 20 December 2009

Solar panels – A new way to invest in your future

Solar panels are about to become more affordable. Over the past decade, solar panels – called photovoltaic or PV panels and solar heating have become increasingly visible.

They power street lamps and road signs in some counties, and are increasingly seen on homes up and down the UK. The key change the government are bringing in April next year is the feed in tariff and that means you and I can earn money from generating our own electricity.

So if there are doubts about how effective solar panels are, and overcast skies, the financial argument is about to get much better.

Especially as electricity costs have doubled in the last three years, says Stuart Lovatt from Heat my Home.

“If you put solar panels on your roof the government will pay you 36p – or 36.5p is the number out for consultation and what we expect it to be,” he said.

“The pay-back time on your investment could still be nearer to 10 years.”

“Even on a cloudy day, it can generate over 50%.”

“We do have doldrums. When we have heavy clouds, they cease to produce anything to let you run the washing machine and so on.”

Most days, on an average kind of day, there’s enough juice to keep our HDTV, surround sound stereo and other creature comforts running. No problem.

Ironically most solar panels manufactured in Wales are exported to mainland Europe, especially Germany. With more generous grants for householders to invest in lowering their energy bills there, solar panels are more common than here.

Possibly – if homeowners prefer to invest £8-£20,000 in solar panels rather than keep their cash in a bank – the feed-in-tariff system next April could see far more panels on houses all over Wales, utilising the power of the sun.

Source - BBC

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