Now that interest rates on many savings accounts have dropped to about 0.1% would you be interested in a return of £25,000 over 25 years for an investment of just £12,500? If you’ve got an unshaded, south-facing roof, you can earn a 7%-10% tax-free return, index-linked, if you fit solar panels that generate electricity (Photovoltaics). This new Government scheme is called “Feed-in Tariffs”. Investors in Photovoltaics will be largely insulated from price rises that Ofgem warn could see household bills reach £2,000 pa by 2020. A typical 2.5kW well sited Photovoltaic installation could reward a homeowner with up to £900 per year and save them £140 a year off their electricity bill. Householders making this investment will get a further payment for any electricity they feed into the grid. Could you say that about a new car or fitted kitchen?
Don’t be deterred by the idea that High Wycombe doesn’t get enough sunshine – the sun here is more reliable than you think and only around one-third less powerful than that in southern Spain. The technology can work on south-east or south-west facing roofs too. Most of the electricity generated is consumed by the householder so virtually no energy is lost in transmission. More distant power stations can lose over a third of their energy generated in such a way.
The Feed-in Tariff has been introduced via the passing of the 2008 Energy Act. It’s intended to boost the use of domestic renewable energy and kick-start the UK industry. You can learn more at www.fitariffs.co.uk or www.ownergy.co.uk. You can also find out about the Transition Town High Wycombe “Home Power” initiative via our website at www.transition-wycombe.org.uk. Wycombe Home Power can help you with multiple technology & supplier options. We have even arranged discounts for you! Give us a call on 01494 8585390 or E:Mail Home-Power@transition-wycombe.org.uk Please remember that TTHW is not a commercial organisation. The volunteers don’t receive a penny…. And we are all volunteers – all working hard to promote the relocalisation of our energy & food supplies.