Solarcentury today welcomes the announcement of the Government’s new Feed-in tariff for clean electricity. Heralding a new era for home generation of clean, renewable energy, this scheme will make solar electricity a viable option for UK homeowners.
Jeremy Leggett, Executive Chairman of Solarcentury says: “Home energy generation and associated jobs have been given a huge boost today. The Government's financial incentives for homes, communities and businesses to generate clean electricity marks the start of a solar revolution in the UK. For the UK to reach its carbon reduction targets, people have to be given the opportunity to generate their electricity in a rewarding and accessible way, this makes it possible.”
The new scheme will enable homeowners producing solar electricity to earn income from energy generation, benefit from significant savings on electricity bills and cut domestic carbon emissions. Solarcentury estimates that homeowners can save and earn over £1,000 per year for 25 years, increasing with inflation, with a typical solar electric system.
Home energy generation with a typical solar system can generate more than half an average home’s electricity consumption, which means it will provide protection against the unstable energy market. Unlike most other long-term investments the income from the solar electricity produced is also guaranteed and tax-free. This means that solar electricity compares favourably to savings and pensions investments, where the economic crisis has resulted in low returns.
The scheme will also encourage businesses to go solar and enable the rapid growth of solar jobs in the roofing and wider construction sector, as hundreds of businesses trained to install solar will see new opportunities up and down the country. This massive potential could total thousands of new jobs by 2013.