If you are thinking of installing solar PV (photovoltaic) panels, it could be time to get your skates on. The rules governing how much you will be paid for the electricity you generate (the Feed in Tariff or FIT) are due to change on the 1st August.
If you install solar panels before that deadline, you will be paid 21 pence per kW hour of electricity that the panels produce. That is tax free, index linked and guaranteed for 25 years. That’s a lower rate than the 43 pence per kW hour paid previously, but the cost of installation has fallen sharply in the last few months. In fact, anecdotal evidence suggests that costs have fallen by around 50%, which could make even the current rate attractive. Continue reading