Since the introduction of the Feed in Tariff (FiT) almost two years ago, there has been a significant increase in the number of solar panels installed across the UK. From households to businesses, people and groups all around the country are looking to alternative energy sources to reduce their carbon output and fuel bills.
However, according to a recent survey, only one in three people realise just how financially beneficial solar panels actually are. 2,000 people from around the country were asked about how much they thought they could save and earn (via the FiT) if they installed a photovoltaic system.
Solar panel price comparison site The Eco Experts recently reported that investing in solar panels can actually have a higher return that an ISA account. However, when survey respondents were questioned about this, two-thirds were unaware of just how financially beneficial solar panels are.
Speaking to pv-magazine.com, Reza Shaybani, Chairman of the British Photovoltaic Association (BPVA) commented: "The reasons most people should be interested in solar photovoltaic is the generous ROI, it is true that Feed in Tariffs have dropped, but so has the cost of a panel, and installing it. People should also be looking to ensure they have secure supply of energy."
Due to the rising cost of energy and the decreasing cost of solar panels, savings that to solar energy have actually increased in the last 12 months – another fact that the British public may be unaware of. Figures from the Energy Saving Trust recently highlighted the fact that the average home with a domestic solar array has seen savings and income increase from £540 to £635 per year.
"People may be worried that we are in a recession and they don't have the money to invest in solar panels, and that may well be, but the cost of energy will continue to rise and producing your own is the best way to protect yourself from that," added Mr Shaybani.