A new survey of 2000 adults in the UK revealed 65% were totally unaware of the Government’s Fee-in Tariff’s.
32% of the survey were unsure how much money they could earn or save from renewable installations on their home.
Feed-in Tariff’s pay the homeowner a set amount per kWh of energy produced from electricity generating renewable sources, like photovoltaic solar panels.
The Tariff’s are guaranteed for a set period of 25 years at the level you initially enter the scheme on. Future revisions of the actual amount paid per kWh will, it’s generally accepted, be reduced, so it makes sense to join the scheme as soon as you’re able to, to maximise your return on investment.
The Tariff payment is made by the Government directly to you and not by your energy company.
The Tariff payments are in addition to the annual savings you could expect to make off of your energy bills with a 2 kW solar system typically saving an average home around £100 a year. That might sound like small change but when coupled with an annual tariff payment of upwards of £800 on a typical 2kWh system then it’s easier to see how you can make a quick return, and over the course of the 25 year Tariff’s life, get a considerable return.
One bright point in the survey was the fact that over 50% of those surveyed would like to install some form of renewable energy generation on their homes.
photo credit: hans van rijnberk
This story appeared in our weekly homeowner newsletter dated 12th September 2011. Click Here to read the full newsletter.