Solar Panels: The Best Investment Decision Available Today?

The problem with saving

The problem with saving

With the financial debt crises or credit crunch as some prefer to refer to it as haunting all of us still three years after it started governments have been quick to criticise our spend thiftyness and our incredible power to rack up debts. Instead, they claim, the men and women of Britain need to save , and spend solely exactly what they can afford. Whilst the theory may very well be sound the truth is that banking institutions simply arent making it desirable to put our pennies away: current accounts offer 0%, whilst ISAs offer often a mere 2%!. Many people have consequently been of the mentality that they may as well spend it is they arent earning any interest, after all, spending will surely help the economy wont it?

Solar panels: the solution?

One progressively attractive investment is to find yourself solar panels. Why? There are actually three key reasons. First, through installing solar panels and generating solar electricity which feeds directly into your household, office, business or farm, you are not paying for electricity which you would normally purchase from the national grid. Right away therefore you are saving money. The solar electricity you make is also free of charge and comes from a reliable and continual source i.e. the sun's rays.

This simply means in contrast to the depleting resources of fossil fuels, you'll not encounter price rises and energy uncertainty. Thirdly and most importantly, you can actually make a good deal of cash. Money can be attained in two ways. Firstly, the government, via the Feed in Tariff, guarantee for the following 25 years that the energy company you use will pay you a certain amount of money for each unit of electrical power you generate. This currently stands at 43.3p for the average sized home installation. The amount paid is also index linked and tax-free. Second, the government also guarantees that for the following 25 years your energy company will pay you for any unit of electric you make and do not use which you immediately export back to the grid. This is an additional 3p per unit.

Whenever you think about how many units of electricity can be produced per day it soon will become clear simply how much money we are discussing. The Energy Saving Trust as an example suggest, somewhat conservatively that the average installation for a three bed house could make an income that could reach over seven-hundred pounds each and every year, whilst some others claim it may be more than one thousand. When one considers that the cost of installation would likely be around 10,000 it's very clear that the system could pay for itself inside of ten years, yet that leaves 15 years remaining of your government guarantee left, whilst your panels will keep producing free solar electrical power for many years. As a final point, studies have also shown that a solar installation may also increase the value of your property. Overall therefore, whilst it may be a fairly long term investment, it is arguably one of the most eye-catching currently available.

Solar panel firms: buyer beware

Although I am suggesting purchasing solar power panels I am not advocating entering the market place blind. Before you take the plunge therefore, keep some of the following suggestions in mind. To begin with is the requirement of looking into the potential firm first. Precisely what should you test then? To begin with check out their website; does it appear professional, are there any testimonials, what kind of jobs have they executed, is there a case study area? Second of all, pay attention to appropriate accreditations. The main one here is MCS, the Microgeneration Certification Scheme. Unless the company has one of these, dont use it.

Finally, ask how much time they have been running for. Recent research learned that a large number of solar power firms supplying solar panel installation had only been doing work for several months. The danger here is that the firm might not be around in a few years time, which could create problems if you encounter troubles with your photovoltaic or pv panels down the line. One solution here is to check out they're part of the Reiga insurance scheme, that offers a financial back up for any rare situations where the original company has gone bust and you need work doing to fix any original flaws on the solar panel installation.

by: Patrick Wong

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