UK solar market is growing rapidly. Grow in 2010 is predicted to exceed 25%. After April 2010 (when feed in tariffs has started) many homeowners and businesses has decided to go green and make investment in to solar panels. What are the benefits and what are the risks of such a decision and what questions should I ask before I make the decision...
At first we should look at length of the investment. Feed in Tariffs is designed to last for 25 years. For most of us 25 years is a long time and anything can happen. Some people prefer short-term investment with the option to take money out any time they want. If this describes you, solar panels are not a good option for you. If you are a person who is comfortable with long-term investment solar panels might be just right option for you.
How risky is the investment?
Solar panels are made out of durable materials like strengthened glass/plastic material and aluminium, other electrical parts are available to different markets for very long time and they are very likely to withstand 25 years of operation. Materials are designed and tested to survive any kind of weather including hail and snow. There are situation where it can go wrong like vandalism. To prevent you from these risk insurance covers are available, in many cases it is a part of a basic home insurance.
What are the benefits?
Feed in Tariffs is guaranteed for 25 years by UK government. Paybacks are tax free and index linked. It will increase price of your property and makes it easier to sell. Evan that we are in the UK there is enough sunshine to power solar panel which will generate free electricity and fund the installation with the profits.
So are the solar panels good investments?
The answer is yes. 25 years of paybacks guaranteed by government, minimal risks, green credits on top. Can you find better deal anywhere else?
