We are always being told to be careful with our money. Looking after the pennies will turn them into pounds apparently. Well looking after pounds turns them in hundreds of pounds, looking after hundreds of pound turns them into thousands of pounds and investing thousands of pounds in a solar pv system turns into tens of thousands of pounds.
The benefits of installing a solar pv system are three fold. Using self generated energy rather than grid bought energy will no doubt reduce the cost of your electricity bills. Then there is the feed in tariff made up of the generation tariff and the export tariff. As the names would suggest, the generation tariff is what the customer receives for generating their own electricity and the export tariff is what the customer receives for feeding energy back into the national grid.
When you combine all three aspects discussed above, it’s very easy to see how solar pv can indeed transform thousands of pounds into tens of thousands of pounds.
Within the solar industry, the feed in tariff is reviewed on a quarterly basis, specifically on the 1st of January, April, July and October. Of course, a review does not always necessarily mean a reduction or indeed a change of any description to the feed in tariff.
It has however been confirmed that at the next review, that being the 1st of April 2015, the generation tariff will be dropping from 13.88 pence for every unit of electricity generated to 13.39 pence for every unit of electricity generated.
Rumour has it that the government is nearing is quota for solar pv installations. With this in mind, the government has said that there will be an increase in the feed in tariff rate which can only mean that your investment will go from strength to strength.