Looking for ways to lower your energy bill? One of the best ways has always been to take advantage of the feed-in tariffs. However, before people run out and start buying things to produce renewable energy, they should note that certain sectors just had their feed-in tariffs cut. The most recent one is the feed-in tariff for generating solar power.
People who are looking forward to earning money from generating solar power, are going to be upset when they see just how little they will make from this venture. This news comes in as the subsidy for generating solar power is cut. However, this deal continues to be a sensible way to generate energy regardless.
Although this subsidy has been cut, putting in solar panels will still net a decent investment. It simply will not be as high as it has been in the past. The UK’s solar sector has maintained its strength despite the unusually dull summer weather. It still seems as if homeowners are interested in installing solar panels on their homes despite the cuts in the feed-in tariff.
So how much was it cut? Well, starting this week, anyone putting solar panels on their house can receive 16p per kilowatt-hour generated. This is a decent cut from the 21p that was previously received from the subsidy.
In fact, the Department of Energy and Climate Change feels that solar panels could still be an honest investment despite these cuts. Households and companies that use these panels will still create a comeback on investment. Any kind of return on investment is always good, whether people are speaking in terms of business or household.
The chief executive of the Solar Trade Association, Pual Brawell, said that these figures show that solar could be a “no-brainer” investment for people. If people compare this return to what they can get as of late in banks, they can see that this is a great alternative investment. Solar still provides a really solid and engaging return for people. This goes double if people consider how much energy bills are rising.
This new tariff cut was simply a follow-up to the much larger cut that was seen last year. This was the cut that saw the subsidy fall from 43p to 21p per kilowatt-hour. This huge cut left the whole industry feeling the shock. Thankfully, the cut this time around is not nearly as big.