Solar panels: The Soundest Investment Decision That You Can Buy?

The problem with saving

With the debt crises or credit crunch as some like to refer to it as haunting us still three years after it commenced governments have been quick to criticise our spend thiftyness as well as our amazing ability to rack up personal debt. Instead, they argue, the men and women of Britain really should save , and spend solely what they can afford. Whilst the idea may perhaps be sound the truth is that banks simply aren’t making it attractive to decide to put our pennies away: current accounts offer 0%, whilst ISAs offer generally a mere 2%!. Many people have consequently been of the mentality that they might as well spend it is they aren’t getting any interest, after all, spending will surely help the economy won’t it?

Solar panels: the solution?

One progressively attractive investment is to purchase yourself solar panels. Precisely why? There are actually three critical reasons. Firstly, by installing solar panels and generating solar electricity which feeds immediately into your home, workplace, business or farm, you are not paying for electricity that you would commonly obtain from the national grid. Promptly therefore you are spending less. The solar electricity you make is also absolutely free and comes from a reliable and continual supply i.e. the sun. This simply means compared with the depleting resources of fossil fuels, you simply won't encounter price rises and energy insecurity. Thirdly and most significantly, you are able to produce a very good deal of money. Money can be attained in 2 ways. Firstly, the government, via the Feed in Tariff, guarantee for the following twenty five years that the energy company you use will pay you a certain amount for each and every unit of electricity you make. This presently stands at 43.3p for the average sized household installation. The amount paid is also index linked and tax free. Second, the government also guarantees that for the next 25 years your energy company will pay you for every single unit of electric you generate and do not use which you immediately export back to the grid. This is another 3p per unit. When you consider how many units of electricity can be produced in a day it soon becomes very clear simply how much cash we are dealing with. he Energy Saving Trust for instance suggest, rather conservatively that an average installation for a 3 bed home can produce an income in excess of seven-hundred pounds a year, whilst many others claim it could be over one thousand. When one considers that the expense of installation would probably be around £10,000 it really is very clear that the system could pay for itself within ten years, yet that leaves 15 years still left of your government guarantee left, whilst your panels will keep generating free solar electrical power for decades. Finally, studies have also shown that a solar installation may also increase the value of your house. Overall therefore, whilst it may be a reasonably long term investment, it is arguably one of the most attractive currently available.

Solar panel firms: buyer beware

Although I am advocating purchasing solar power panels I am not advocating going into the market place blind. Before taking the plunge therefore, keep some of the following recommendations in your mind. To start with is the requirement of investigating the potential firm first. Just what should you examine then? First of all check out their website; does it appear professional, are there any testimonials, what kind of jobs have they executed, is there a case study section? Secondly, pay attention to relevant certifications. The key one here is MCS, the Microgeneration Certification Scheme. Unless the firm has one of these, don’t make use of it. Finally, ask just how long they have been operating for. Recent research found that a large number of solar power firms supplying solar panel installation had only been functioning for several months. The risk here is that the business might not be around in a few years time, which could cause problems if you happen to experience issues with your photovoltaic or pv panels later on. One solution here is to check they are part of the Reiga insurance scheme, which offers a financial backup for any rare occasions where the original firm has gone bust and you need work doing to repair any initial errors on the solar panel installation.