Why Solar PV is Still a Good Deal

British PV associations clarify misconceptions about solar incentives

All four major trade associations representing the UK photovoltaic (PV) industry have issued a joint statement saying that despite cuts to solar incentives, residential PV systems still offer homeowners a good return on investment.

Stating that they believe UK homeowners are confused about solar incentives, the four associations say the current feed-in-tariff (FIT) rate for PV offers the same return now as it did when the FIT scheme was first launched in spring 2010 – When launched, the scheme was designed to offer returns of up to 8 percent.

Good Returns Are Still Possible

The British Photovoltaic Association (BPVA), the Micropower Council (MPC), the Renewable Energy Association (REA) and the Solar Trade Association (STA) say that recent press about drastic rate cuts and legal battles has clouded the fact that good returns are still possible because the cost of installing a PV system has fallen so much in recent months.

The organizations say that the UK residential PV market has stagnated because of misunderstandings, not because of any financial explanation.

MPC's Chief Executive Dave Sowden Summarizes:

"Solar PV still offers attractive returns for consumers, in excess of many alternative investment products. Improving consumer understanding of solar PV and the Feed-in Tariff scheme is likely to be key to restoring healthy uptake levels.

We are pleased that the policy framework is now on a more stable footing and are optimistic that this will signal a new dawn of consumer confidence in the microgeneration sector.”

Source: British Photovoltaic Association; Summary: PHOTON

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