After the changes that come into place today, what is the future for the viability of Solar PV?
The answer in some ways is very straightforward in that the price of Solar PV Panels has fallen so considerably that the return on investment isn?t too dissimilar to that when the Clean Energy Cashback Scheme was launched in April 2010.
Domestic scale Solar installations of 4kWp can now cost between £6,000 and £9,000 depending on the quality of panels and difficulty of installation. Returns can offer a payback of the investment in as little as 6-7 years.
It is the larger scale installations that are proving more popular now, particularly as Planning Consent for installations on buildings has been waived in the majority of situations. Commercial Solar PV installations can really assist businesses as they often can use much more of the electricity that is generated than households. This boosts the return on investment as well as increasing the sustainability credentials of the company.
The next changes are due to the tariffs on 1st November and every 3 months thereafter ? it is anticipated that future changes will be smaller as margins of manufacturers tighten.
For more information contact your local EnergyMyWay office.
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