Grants
Solar energy will play a major part in helping the Government to reach its target of 15% renewable energy by 2020.

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How much can you earn?

From 1st April 2010, home and business owners that fit technology such as photovoltaic (PV) to their homes or buildings will be paid for the low carbon electricity it generates whether they use it themselves or not.

Photovoltaic (PV) - panels are fitted to roofs or other sunny spots to generate power, so by fitting a four kilowatt system you would get 41.3p for every kilowatt hour you produce.

You can also be paid extra for any unused electricity you sell back to the grid, on top of saving on your electricity bills.

Payments are income tax free and retail price index linked - which means they rise with inflation. They’re also guaranteed for 25 years (PV).

Renewable Heat Incentives (RHIs)
 
From 1st April 2011 payments will be made by the energy companies for every unit of heat generated by a solar thermal system. A suitable system fitted now, will qualify for Renewable Heat Incentives and could be back-dated once the new tariff comes into effect.
 
The Renewable Heat Incentive scheme is still in consultation, so the exact payments and terms have not yet been finalised. However, for solar hot water systems up to 45kW, it is likely that a payment of 18p per kWh will be made for a period of 20 years after installation. This equates to around £350 per year for a typical system.
 
RHI payments represent a return on investment of around 8%.
 
Higher band tax payers are also expected to receive even higher returns. Under the Renewable Heat Incentive system, most installation costs are therefore likely to be recovered in 7 to 9 years.
RHI scheme commences on 1st April 2011.
 
Suitable systems fitted now will qualify for RHIs.
 
Around 18p per kWh paid for systems of up to 45kW.
 
Equates to approximately £350 per year.
 
Expected 8% return on your investment.
 
Fitting cost likely to be recovered in 7 - 9 years. However, you would start saving on your hot water costs from day 1.
　
 


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