A recent article in The Guardian reported that solar energy is still a good option despite subsidy cuts and rise in VAT rates, but consumers should expect a longer payback period.
The current incentive of 12.47p per kWh for electricity from solar panels ends at Midnight on Thursday and the feed-in-tariff scheme will then close for new applicants for 3 weeks. Those installing solar panels will receive just 4.39p per kWh – a massive cut of 65%
The cost of solar panels could also go up to as much as £900 following the government’s decision that they no longer qualify for a lower rate of VAT because of EU state aid rules.
The article reports that: The Solar Trade Association said solar was still attractive even though the payback period for an average system – costing about £6,000 – would now be about 14 years, up from eight years with the current incentive rates. “It’s still a great investment,” said a spokeswoman for the trade body. “And for anyone who is replacing their roof, it’s a no-brainer to be replacing with solar.” A significant part of installation costs are for scaffolding.”
A Cheaper Solution
Scaffolding is a considerable cost but, as many of our largest solar installer customers have found out, using an Easi-Dec safe access platform can reduce installation costs, yet maintain profits and encourage growth in this sector.
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Click here to read the Guardian’s article in full.