Feed in Tariff, still a good investment?

Feed in Tariff

As we all know by now the government has decided to go ahead and reduce the feed in tariff (FIT) for photovoltaic cells. The original rate was  43.2  pence per kilowatt hour (KwH) generated.  The new rate from April 1st is being reduced to 21p per KwH. generated.

So is it best to walk away with such a significant cut in the FiT? Not necessarily. The cost of photovoltaic panels is falling all the time. Twelve months ago panels for a 4 bedroom detached house might have cost about £15000 but now cost about £10000 and certainly no more than £12000.

Properties in Rossendale

Rossendale roof gets solar panels

Rossendale property gets photovoltaics

The likely return for a property in Rossendale could still be about £1500 per year. In other words the payback time is broadly the same; about eight years. If you live in the south the return would be even greater. Remember of course that the FiT is index linked so investing in photovoltaic panels continues to be one of the best investments around.

 

 

 

Home Inspection Services in Rossendale, provide independent property advice, offering EPCs, surveys, inventories, floor plans, and property marketing.

 

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