The problem with saving
With the financial debt crises or credit crunch as some like to refer to it as haunting all of us still 3 years after it started governing bodies have been quick to criticize our spend thriftiness and our incredible power to rack up debt. Instead, they argue, the men and women of Britain really should save, and spend just exactly what they can afford. Whilst the theory may very well be sound the reality is that banks simply aren’t making it attractive to put our pennies away: current accounts offer 0%, whilst ISAs offer often a mere 2%!. Many people have consequently been of the mentality that they may as well spend it is they aren’t building any interest, after all, spending will surely help the economy won’t it?
Solar panels: the solution?
One increasingly attractive investment is to buy yourself solar panels. Why? You will discover three critical reasons. To start with, through installing solar panels and generating solar electricity which feeds straight into your residence, workplace, business or farm, you’re not paying for electricity which you would generally purchase from the national grid. Immediately, therefore, you are conserving money. The solar electricity you create is also totally free and comes from a trustworthy and continual source i.e. the sun. What this means is compared with the depleting resources of fossil fuels, you will not encounter price rises and energy insecurity. Thirdly and most importantly, you can easily make a very good deal of cash. Revenue may be attained in two ways. Firstly, the government, via the Feed in Tariff, guarantee for the following 25 years that the energy company you use will pay you a certain amount of money for every single unit of electrical power you make. This currently stands at 43.3p for the averagely sized home installation.
The amount paid is also index linked and tax free. Secondly, the government also ensures that for the next Twenty-five years your energy company will pay you for any unit of electric you create and do not make use of which you automatically export back to the grid. This is another 3p per unit. Whenever you consider how many units of electricity can be generated per day it soon gets to be very clear exactly how much money we are talking about. The Energy Saving Trust as an example suggests, rather cautiously that the average installation for a three-bed house may make an income that could reach over seven-hundred pounds per annum, whilst some others claim it could be more than one thousand.
When one considers that the cost of installation would likely be around £10,000 it truly is clear that the system could pay for itself within ten years, yet that leaves fifteen years remaining of your government guarantee left, whilst your panels will keep creating free solar electricity for decades. As a final point, research has also shown that a solar installation may also increase the value of your home. Overall, therefore, whilst it may be a comparatively long term investment, it is arguably one of the most desirable on the market.
Solar panel firms: buyer beware
Although I am advocating investing in solar panels I am not suggesting going into the market place blind. Before you take the plunge, therefore, keep some of the subsequent recommendations under consideration. First of all is the necessity of investigating the potential firm first. Exactly what should you check then? First of all, check out their website; does it appear professional, are there any testimonials, what kind of jobs have they completed, is there a case study area? Second of all, research for appropriate certifications. The key one here is MCS, the Microgeneration Certification Scheme. Unless the firm has one of these, don’t make use of it. Finally, ask just how long they have been operating for.
Recent research found that a large number of solar energy companies providing solar panel installation had only been operating for a number of months. The risk here is that the firm might not be around in a few years time, which could cause problems if you happen to experience complications with your photovoltaic or PV panels later on. One solution here is to check out they’re part of the Regia insurance scheme, which provides a financial backup for any rare occasions in which the original company has gone bust and you need work doing to fix any initial mistakes on the solar panel installation.