Despite the cuts to the feed-in-tariff there still remains significant benefits when you install a solar PV system..In addition to the carbon savings and reduced energy bills, the return on investment (ROI) for your PV system could provide a substantial financial benefit and in many cases could be a far better investment than putting money in the bank or high risk investment vehicles.
The table below demonstrates the rate of return you could expect from a solar PV system:-
Get rewarded for every unit of electricity you generate via the Government Feed-in-Tariff whether you use the electricity or not. For the electricity you don't use you get paid an additional amount for every unit which is exported to the National Grid. The best thing is these payments are tax-free, index-linked and guaranteed by the Government for 20 years. This is currently the best investment available in the country with a pay back period estimated at 10 years As of August 1st 2012 the Government reduced the Feed in Tariff see the new rates below.
|Scale per System||Proposed Tariff Level for new Installations|
|Upto 4kW (Retrofit)||16p|
|Upto 4kW (New Build)||16p|
|4 - 10kW||14.5p|