LONDON, UNITED KINGDOM -- (Marketwire) -- 05/25/12 -- As expected, the Government have announced the changes they will be making to the feed-in tariff scheme linked with solar panels.
The DECC have revealed that tariff rates will be slashed by nearly 25% on August 1, and the new tariff will be just 16p/kWh. This means there's little time to ensure you make maximum earnings.
Installing and registering solar panels before August 1 will ensure you receive the 21p/kWh rate for 25 years, guaranteeing a tax-free income and a route out of rising gas and electricity prices.
Remember, if you're interested in solar panels, receive up to four free quotes to compare prices before the Government changes come into place.
The need to install solar panels is even greater as the Government have also announced a charge will be added to energy bills to supplement their attempts to lower carbon and promote renewables.
And on top of this, British Gas' owners Centrica have revealed that they expect energy bills to rise a further 15% by winter, so there's never been a better time to start generating your own electricity.
If you install solar panels before August 1, you'll:
-- Slash your energy bills by as much as GBP 300 every year by generating your own, free electricity -- Receive the top feed-in tariff rates of 21p/kWh which will ensure a 10- 15% yearly return of investment over a period of 25 years -- Cut your property's carbon footprint by over 30 tonnes in the solar system's lifetime
Ed Davey, the Energy and Climate Change Secretary for the DECC, says that it's now impossible to 'turn back the tide' of rising energy prices and that consumers should expect rising bills.
He also believes that the UK will need GBP 110bn of investment to reach its carbon and renewables targets. And this will be lumped onto home energy bills.
He told BBC Radio 4: 'What we want is a market structure that helps keep the lights on. The real challenge for the UK, let's face it, is energy security.
'We are extremely concerned about consumer bills. We can't turn back the tide because global gas prices are having upward pressures - we can't stop that. What we can do is try to insulate the UK economy.'
Escaping the growing concern of rising energy bills is easy, with photovoltaic solar panels. They generate free electricity for more than 25 years with an environmentally friendly source, whilst helping to secure a long-term income.
Speaking on the charge to be added to energy bills, Mr Davey said: 'We have nuclear power stations coming offline, we have coal power stations coming offline, and actually we have electricity demand going up as we see the transport sector increasingly becoming electrified.
'What our reforms today do is they try to keep the lights on through energy security and getting investment in infrastructure and they get the carbon transition we need to hit our climate change targets and get to clean energy, and we need to do that at the most affordable way for the consumer.'
By utilising solar panels, you can tap into a renewable source and generate free electricity for 25 years. But you need to install before August 1 or miss out on the top rates and high earnings.
This is a series of posts for written by Luke Kyte, copywriter for lead generation company Quotatis. Quotatis are Europe's most popular consumer matching service for the home improvement market and they offer up to four free solar panel quotes.