Soon there will be no excuse for not installing photovoltaics into your home or business property. The introduction of a feed in tariff or FIT will mean it is cost effective to go green and may even make a good return on your initial outlay. Solar panels or Photovoltaics to give them their proper name are relatively simple to install and being passive devices they can generate power for around 30 years with only the most basic of maintenance.
The FIT will be introduced in the United Kingdom on the 1st April 2010 and will give consumers the chance to obtain a very good price for any electricity generated by the photovoltaic (PV) panels even if this is not used and pushed into the grid. The scheme will pay up to 36.5p per unit [kWh] of electricity generated, a significant premium over the current cost of traditionally generate electricity available from existing suppliers. The scheme means that the total cost of ownership photovoltaics systems will fall as the the FIT subsidizes the cost of the installation. What this means for customers and potential customers of photovoltaics is that there is now a very strong financial incentive to install a system. It effectively reduces the payback time of the installation costs and bring you recouping your install costs.
There are additional benefits of installing systems and that comes in the form of an installation subsidy up to the value of £2,500 which can be used to offset the cost of installing a system. These two financial incentives mean PV is now one of the most cost effective green energy solutions. You can get the FIT on energy generated in a green manner and this may include solar thermal power, wind power, wave and tidal power, biomass, hydropower and geothermal power.