Following the recent announcement by the government to introduce a feed-in tariff similar to those found in Europe, a solar installer is urging homeowners to act fact in order to obtain both a grant and access to the new feed-in tariffs.

Act now to benefit from both schemes

County Durham-based Access Renewables is urging homeowners who are considering renewable energy to act “with speed” to benefit from both a grant to install solar PV and the new legislation being introduced early next year which will see the sale price of energy from their systems rocket from around 10p to 36.5p per unit, making solar photovoltaic systems a very healthy investment.

From April 2010, the government is proposing to introduce a ‘feed-in’ tariff which basically allows homes which have a solar PV or wind turbine to sell back any excess energy at a price around 3 times that of a standard unit of electricity bought from a power supplier. The government’s Low Carbon Buildings Programme also provides a grant of upto £2500 to homeowners wishing to install solar photovoltaic systems into the home.

Sean Collier of Access Renewables comments “We’ve been calling for feed-in tariffs such as those found in other European countries for many years now, and the recent announcement by the Government shows that they have listened to us. It will stimulate growth of the industry, providing much needed jobs whilst reducing the carbon emission of homes.”

The proposal to increase the amount self-generating homes are paid for putting green energy into the National Grid is expected to last for around 25 years – which coincides with the expected product life of the new solar PV systems. The means that a system installed into a typical UK home which installs a solar PV system could benefit from £1000 per year, based on income from exporting electricity and the savings of using energy generated.

For example: a typical UK home can install a 2.5kw solar PV system which would generate about 2,125 units (kWh) per year. Homeowners would receive 36.5p for each kWh unit they generate (2125 x 36.5p = £775), plus an additional 5p per each kWh they export (the average is around 50% exported= 1062 x 5p = £53). In addition to the income, the calculated savings as a result of not purchasing energy, instead using 50% of the energy from the installed system is £138 (1062 x 13p). So the overall expected benefit for the average installed PV system is £966 per year. Based on an installed cost of £10,000 including VAT and £2500 grant, the installation would return 9.7% per year.  

Sean Collier adds “The new tariffs mean that Solar PV has become more of an attractive investment, and boosted by the availability of a £2500 grant available until April next year, we are urging homeowners to install systems without delay”

Access Renewables design and install Solar PV systems which comply fully with both the Low Carbon Buildings Programme grant scheme, and the new feed-in tariff scheme. The installer covers the entire country, and installs systems into hundreds of buildings each year.

Notes to editor

1. Access Renewables provides a range of systems including solar thermal, solar photovoltaic, wind turbines, ground and air source heat pumps and rainwater harvesting.
2. Access Renewables are certified installers under the Microgeneration Certification Scheme.
3. Access Renewables is based near Bishop Auckland in County Durham however regularly services clients throughout the UK.
4. Figures quoted are general.
5. Access Renewables are not a Financial Services company, so this example is indicative only. Customers are advised to contact an independent IFA for investment advice.
6. Performance information assumes optimal pitch, location and orientation, using SAP2005 approved calculations.

Please contact Sean Collier – Access Renewables on 07534 252472 for further information, interviews or images.

Tags: Feed-in tariffs, Funding, LCBP, solar homes, solar investment, wind investment, Wind Turbines

This entry was posted on Tuesday, July 28th, 2009 at 12:17 pm and is filed under Comments, Funding, Industry, Solar Photovoltaics, Wind Turbines. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.