Although householders are aware that solar subsidies have been cut by the government, many remain unaware that costs have been slashed too – according to EOS Energy.
The Warwickshire-based company adds that solar remains an attractive financial prospect with Solar Trade Association calculations predicting a 10 per cent return on investment under the current Feed-in Tariff (FiT) of 21p/kWh – the same as when FiT began at the higher rate of 43p/kWh two years ago.
EOS Energy’s ceo, Gary Summers, said: “There have been a lot of gloomy headlines about solar power but the fact is the returns on offer are far better than anything you can get in the bank. The smart money is on solar. And by investing in solar power not only do householders protect themselves from rocketing electricity bills, they help local businesses and employment.”
Dr Doug Parr, policy director at Greenpeace UK, added: “Local renewable energy remains a valuable contributor to a sustainable economy. We welcome further solar PV systems, taking advantage of genuinely sustainable energy in the drive to protect the planet from climate change.”