Solar PV electric news: buy now or miss out for ever on over-generous subsidies.
Midsummer is coming, with its high peak sunlight levels, but that is not the only reason why solar is a great idea – right now.
There is some much more pressing urgency. Cuts.
It’s a matter of “use it or lose it” when it comes to getting a huge subsidy for home solar electric (PV) installations. This week, as part of its “fast track (ie panic) review, the UK government slashed subsidy levels for large scale solar farms by over 70%, effectively putting a stop to most of those solar farms which had been planned.
So what? You may ask. Well, solar PV homes are probably next on the cuts hit list. I would advise you to consider buying a solar electric installation right now because the writing is on the wall for UK’s generous Feed in Tariff (FiT) subsidy scheme. This is because now that their fast track review is done, small scale (ie domestic) solar electric installations now come under scrutiny.
Today’s generous subsidies for home PV installations is are extremely unlikely to be reviewed upwards! Down is almost certain. A big drop down.
This PV tariff review is due to complete within 12 month and a cuts announcement may even happen later this year. Given that the UK Solar PV Feed in Tariff subsidy is one of Europe’s most generous at 43.3 pence per unit of solar electricity energy that you generate, and that the UK FiT is a whopping 65% higher than Germany’s FiT, at Solartwin, we would not be surprised if tariffs will fall to 20-30p instead as a result of this review.
The need for such huge solar subsidy levels is evaporating daily. The need for government subsidy to “close the decision gap” is diminishing because fuel prices are heading skywards. Only this week Scottish Power increased electricity prices by 10% and gas prices by 19%.
Right now, totalled over a period of 25 years. you can expect about 240% return on investment for a 4kWp solar PV installation, the price of which we have recently cut, following some sweaty negotiations with our PV suppliers. Very few banks will offer such a reward as good as this.
And all your FiT income is tax free! It is also index linked.
Feel free to contact us now for a solar PV quote before the funding pot either runs dry or is splashed about less liberally. We do free solar panel quotes! Call us on 0344 567 9032 for your bespoke solar PV quote. We install solar PV and Solar water heating nationwide across UK.
Solar water heating news: Renewable Heat Incentive Premium.
The government’s solar no-news story (!) of this week is that they has failed (yet again) to tell the public (on time) how they planned to start subsidising renewable heating technology (as opposed to electric technology, funding for much of which it has just cut).
The expectation for this week had been that people buying solar water heating systems would gain a government grant of £300, called the Renewable Heat Premium Payment (RHPP).
Since the RHPP has still not been announced, due to bickering about whether some RHPP payments should be limited to people who are not on the mains gas grid, rather than let you wait for this funding to happen (if it ever does!) we will simply discount your solar water heating installation by £300 instead, in lieu of grant.
So feel free to order zero carbon solar heating from us today. Summer’s a great time of year to go solar with Solartwin!
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Genfit - 0344 567 9032