thumbs up as solar panel prices plummet
The Government reduction in the Feed-in Tariff isn’t necessarily all doom and gloom for homeowners.
True, the amount you’ll get paid by the tariff has reduced, but we’ve also had a lot of solar installers telling us the prices they’re paying for the panels is also dropping – some prices have dropped by 50%.
And these are savings getting passed directly onto homeowners booking installations.
The net result is that whilst your installation will earn you less, that reduction will be mostly off-set by the reduction in your solar system installation costs.
Return on investment figures will be between 5% and 10% on the new tariffs with these new lower installation prices in mind.
Perhaps more importantly, the feed-in tariff is still guaranteed for a 25 year period and during that time (and beyond) your installation will be saving you on your normal energy bills – bills that have already risen by around 20% this year and despite promises of simplifying bills and energy tariffs, look likely to continue rising as resources get scarcer and wholesale prices rise.
Solar Panel Quoter has been updated to reflect the new lower installation prices so if you’d like a quick price guide to what you can expect to have to pay , before any installer discounts or promotions, then use our updated website and get an instant online solar panel installation quote in a matter of minutes.
photo credit: morgan sherwood