Tuesday, 1 June 2010

Solar Panels - Big financial incentives mean tax free return of 10% pa

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A report in last weeks Telegraph waxed lyrical about the level of return homeowners could see from installing a solar panel system on their home.

The Department for Energy and Climate Change's Clean Energy Cashback Scheme (Feed-in Tariff's) is offering financial incentives to people investing in solar technology.

The scheme, introduced in April 2010 replaced the existing grants system and now homeowners are rewarded for every unit of electricity they generate.

Interestingly, Energy companies are required by law to buy back any excess homeowners generate.

The tariff's only cover photovoltaic panel systems (electricity generating panels) at present but the previous Government had planned to introduce RHI - Renewable Heat Incentives from next April (2011).

The Telegraph's column makes a lot of sense and I'm sure if you're still sceptical about the financial benefits of installing a solar panel system on your home (or business), then it'll certainly give you some food for thought.

Click here to read the full article now.

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photo credit: stevendepolo

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