Solar PanelsSo, is solar still worth having?
Other than saving the planet and reducing your carbon footprint (reason enough for some) does Solar still make financial sense?
There are many variables that will affect the returns you receive from the FIT.
Inflation will increase the generation and export tariffs each year. The Bank of England’s target rate of inflation is 2% – this is a useful figure to use when calculating what future tariffs may be.
Electricity price increases will affect how much you save on your electricity bills. The higher electricity prices go, the greater your savings will be.
Cost of solar panel installation has fallen swiftly since the launch of the FIT scheme. If this trend continues, the rates of return you receive from solar panels could be potentially higher as it will take less time to repay your initial outlay.