A growing army of shrewd investors are turning away from more traditional investment options in favour of solar photovoltaic technology.
With financial experts predicting a return on investment of as much as 12 per cent, renewable energy specialists are seeing unprecedented levels of interest from domestic and commercial customers.
The prime driver is the Government’s Feed in Tariffs (FITs), which were introduced in April last year.
FITs pay you for all the energy you generate regardless of whether you use it or not. You also save money by not having to buy the electricity you have produced, while you get a further payment for the electricity you export as a surplus to the National Grid.
This means that anyone installing small-scale electricity generation in their homes, schools, hospitals or businesses can claim a substantial tariff – up to 41.3p a unit – for what they produce. In addition, there is a further 3p a unit for any surplus electricity exported to the grid as well as saving the cost of buying electricity in.
David Hunt, a director with one of the UK’s leading renewable energy companies Eco Environments, says a typical domestic installation will produce an income/saving of between £900 and £1,600 a year, index-linked and tax free and guaranteed for 25 years.
Meanwhile, wind turbines have the potential to provide an average income/saving of between £6,000 and £12,000 a year, fixed, index-linked and tax free for 20 years.
David said: “Whether you are interested in doing your bit against climate change, reducing energy costs or creating an additional income stream through Feed in Tariffs and by selling surplus energy back to the National Grid, we are able to provide domestic and commercial customers with the best solutions for them.
“There is a lot of buzz particularly around Feed in Tariffs in which customers are paid for every kilowatt hour of electricity their system produces irrespective of whether they use it or not as well as being paid for electricity sold back to the Grid.
“As we come up to the first anniversary of the introduction of FITs, levels of awareness among consumers and businesses is growing not least because they offer a mouth-watering return on investment not readily available in the current uncertain economic times.”
Eco-Environments, which has its head office in Liverpool, also has offices in Darlington, Manchester, Penrith and Tamworth.
The three-year-old company has witnessed dramatic growth which has seen it go from a turnover of £100,000 in its first year to a forecast £1.8million this financial year.
The company designs, installs and commissions a comprehensive range of renewable energy and energy conservation solutions, specialising in Solar Photovoltaic (PV), wind turbines and solar thermal water heating systems and heat pumps.
Source: Mason Media for Eco-Environments
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