Solar Panels Photovoltaic
Due to Government changes to the financial incentives (Feed in Tariffs – FiTs) the case for investing in photovoltaic (PV) panels was significantly reduced from 12 December 2011. The high take up prior to this date enabled the Energy Network to hit its target of 50 local PV installations early (13 November 2011) though it is acknowledged that not all these installations had direct Energy Network involvement. Map of local PV installations (Nov11)
FiTs have continued to be reduced and the latest rates (Nov12) are likely to still deliver reasonable Net returns on investment of about 5% to 8% (due to reduced costs) but payback periods on invested cash have increased slightly compared to the period 2010 to 2011. PV investments remain attractive because:
- investment returns over 20 years, are tax free and RPI index linked
- investors have much more control over their spiralling energy costs
- technology developments (e.g. ‘smart’ controllers and battery storage) will continue to further improve matters
- ‘green’ contributions help towards countering Climate Change
The Energy Network will continue to encourage the adoption of PV since we are convinced that it has a key part to play going forward and we will happily support any seeking assistance and guidance on the subject via our website and our very knowledgeable members. However, we are no longer updating the Nov11 PV web site content, much of which is still directly relevant – see links below.
For more information about PV including the key variables that could influence your potential PV application look at the following guides;
The main benefit of understanding the key variables before inviting potential installers to give quotes is that you can become an ‘informed purchaser’ and better understand what is being quoted for and what is excluded.
Click Here for a case study on a local solar PV and Air Source Heat Pump installation. For help with clarification about technical issues or to seek other guidance email Gerry at email@example.com and we will endeavour to assist you.