For a number of years there has been a strong focus on finding energy sources that are a viable alternative to fossil fuels. Indeed, it is becoming a necessity, as not only do fossil fuels pollute the planet, but the supply is not finite. One of the most successful is solar power, with modern, 21st century solar panels being very efficient.
However, in early 2019, the government in the UK effectively moved the goalposts in terms of solar power generation. The original Feed-in-Tariff arrangement – in which householders could be paid for excess energy generated and supplied back to the grid – has been replaced by a new scheme, known as the soar power Grid Trade Scheme. This still allows for excess power to earn the homeowner money but, as we will explain in summary in a moment, in a different manner.
This has led to many homeowners asking the question: are solar panels worth it? It’s an important question, so let’s see if we can help answer it.
The Grid Trade Scheme
The original feed-in-tariff scheme made solar panel installations very popular. It allowed for up to 50% of the energy generated by a household to be returned to the grid. The price paid was set by the Office of Gas and Electricity Markets – OFGEM – which is the government department that oversees the energy markets.
The new Grid Trade Scheme differs in that it allows prices to be decided upon by the ‘big six’ energy companies that dominate the market. This is, in fact, a bonus for the newcomer to solar panels, because it means they will be able to shop around for the best deal. It should be noted that those already on the feed-in-tariff scheme will be permitted to continue with it should they wish, but no new installations will be added to the scheme.
So, back to the question, is it worth fitting solar panels? The answer is undoubtedly yes!
Benefits of Going Solar
The nature of the new scheme means that payments may no longer be capped at 50% of the power generated; the homeowner is free to find a deal that best suits them. The new grid trade incentives 2019 installations will benefit from mean that you will be able to save a great deal of money on your energy costs, and that it may increase over the years.
Briefly, to benefit fully from the new scheme, the customer needs to investigate in detail the factors involved, which include battery storage systems, so that stored energy can be sold back to the grid, as well as the process of bill crediting, in which your energy bills are reduced in relation to the amount of electricity you export back to the grid. There are many more which are explained in more detail elsewhere, and we recommend you look closely at the details.
Solar panels in 2019 are a viable, cost-saving proposition, so if you’re interested, check out the subject further and see how you can benefit.