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UK’s FIT scheme sees 21 000 solar installations
- 13 years ago (2011-02-19)
- Junior Isles
Solar Guide, a free online resource for homeowners and engineers regarding solar-related issues, has found the average price of a domestic solar PV installation in the UK to be less than £12 000.
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Figures, taken from the second half of 2010, show the average cost of a completed solar installation was £11 657. The research was carried out by Solar Guide to see how quickly consumers can expect to see a return on investment and to investigate the growth of the UK's solar market.
From June - December 2010 experts at Solar Guide studied 2030 customers using a total of 286 different companies, all of which will be eligible for the Government's Feed-In Tariff (FIT).
The Feed-In Tariff scheme allows homeowners, businesses and communities to receive payments for generating their own renewable electricity. As well as lowering their energy bills, this scheme has the added advantage that applicants can receive extra cash by exporting any unused electricity to the power grid.
Since the launch of the Feed-In Tariff in April 2010, more than 21 000 registered installations have been carried out across the UK.
The size of a solar panel installation and the amount of electricity it produces determines how big a payment someone can receive.
According to Solar Guide, consumers adopting a solar PV installation in the beginning of 2011 can expect to pay between £11 000 and £14 000 for a 3 kWp system which would pay for itself in eight to nine years with a return of 5 - 6 per cent AER over 25 years.
David Holmes, Founder of Solar Guide said: "The statistics by Solar Guide shows a positive response to the Government's Feed-In Tariff. Our customers are seeing the benefits of solar electricity for themselves and the profits to be gained from this growing market.