Tuesday 24 April 2012

Time running out to install panels with FiT

Homeowners have just over two months to get the current 21p return from installing solar panels until Government cuts the Feed-in Tariff. As of July 1 the new rate will be no higher than 16.5p and may be even lower.

Industry insiders expect the return on investment to drop to as low as 4% if deployment in March and April is between 150 and 200MW.

David Hunt, a director with leading renewable energy company Eco Environments said: “This is the final chance for consumers to secure a fantastic return on investment if they go ahead with a solar PV installation before July 1.

“After this date, the FIT rate will drop dramatically, which will make a domestic solar PV scheme appealing only to the really green investors rather than those who are coming at it mainly for the eye-watering financial returns.”

Following the FiT fiasco last year the rate for domestic schemes under 4kW was slashed from 43.3p to 21p.