Although most of us believe in the benefits of solar-powered energy, it often goes unconsidered with many believing it costs more to run a home or business on green power than normal electricity. But in fact, not only is solar power cheaper, but can also give back money, so read on to find out how.

Home and business owners are being encouraged to install solar photovoltaic (or PV) panels with an incentive called the Feed-in-Tariff. This scheme is often referred to as ‚clean energy cashbank‘, which is designed to financially give back to those who use solar power. This scheme which became available back in 2009 applies to those generating low carbon energy, with the home and business owners being paid back for the solar energy they generate.

Should the home or business owner use all the electricity themselves, then they still get a great cashback rate between 29.3 – 41.3 pence per kWh used. Any ‚left-over‘ energy not used which is then exported back to the grid is given a higher cashback rate of between 32.3 – 44.3 pence per kWh. This means the homeowner can actually benefit financially from over-producing solar generated power. Although this FIT scheme is an incentive aimed at new solar power customers, those who have already had the solar PV panels installed, they could still very much be eligible, so check out the Feed In Tariff page for full details.

Not only would solar powered energy reduced costs anyway, it is also worth remembering that, with utility bills expected to rise up to 60% every year over the next decade, there really has never been a better time to get solar PV panels installed. They can also add around 10% onto the value of the house, so there really are some serious benefits to consider.

However, it is definitely worth acting fast, as, although the FIT scheme will be around for years to come, year-on-year the FIT rates will decrease, making solar PV installation less-and-less financially beneficial. And don’t forget about the obvious environmental benefits to solar PV panels; the sooner you start, the sooner we can all do our bit to meeting the UK’s carbon emissions reduction targets.

Learn more about free solar pv panels installation Solvis Energy Solutions.