Solar is a “no brainer” investment which will continue to attract domestic properties in the UK despite the Government’s reduction in Feed-in-Tariffs (FiTs).
The Solar Trade Association (STA) used a ‘Calculator’ system for its members and showed the returns domestic consumers can expect. The company found the outcome despite solar tariffs reducing from 21p per KWh to 16p per KWh starting tomorrow.
The association claims returns for investors in solar have been “exceptionally attractive” in recent months and the number of installations are rising. For a family installing a large 4kW system in August costing £8,000, using 50% of their power in the home and exporting the other half, the STA Calculator showed the system will have paid for itself within 10 years, with returns of 9.2% over the next two decades.
Paul Barwell, CEO of the company said: “Our figures show that solar is a no-brainer investment. Compared to the returns you can get these days in banks and many other investments, solar provides a very solid and attractive return. That is particularly the case if you consider energy bills are rising faster than anyone expected.
“Investors in solar are also helping us to drive an exciting energy revolution, putting power in the hands of everyday people, while saving the planet.”