Solar panels can earn you money, with the new feed-in tariffs which came into effect this year.
FEED-IN Tariffs (FiTs) came into effect on April 1 this year and allow operators of solar and wind power systems of all sizes to claim payment for all their renewable energy generation.
Householders, business buildings and even farmers’ fields can now tap in to a 20-plus year stream of guaranteed earnings by installing solar panels or wind turbines.
Under the FiT scheme, operators are paid an index-linked amount per unit of electricity produced, regardless of whether it is used on their premises.
In addition, if that power is used by the operator it displaces the cost of bought-in power from the National Grid, while any excess can be automatically exported for a further payment.
Typical systems are earning eight to ten per cent per annum. For domestic owners, this benefit is free of income tax.
Payback times have thus tumbled to the order of a decade, representing a totally free income stream for the balance of the guaranteed period.
This is an astonishing return in the current investment climate.
Where capital cost is an issue, commercial and social lenders are now offering loans secured against the FiT revenue streams in both domestic and commercial markets.
Cowes-based Engenius Limited has logged more than 70 wind and solar installations on the Island and southern UK, and has seen a massive rise in business since the introduction of FiTs.
Laurie Tennant, director, said: "Both householders and business managers have recognised this is an opportunity both to be green and to earn serious value."
He added buildings fitted with renewable generation were achieving higher resale prices while greatly reducing their operating costs.
For more details, contact Engenius Limited on 01983 247981 or e-mail info@engenius.co.uk, or visit the website at www.engenius.co.uk.