Government Initiative - is it a good deal?

Churchpolly

Hi, I heard about this on radio four last week and I just wonder if this is a good deal or not? It seems you install your own energy generator such as solar panels and the government, through the energy company pays you not only for energy you dont use but for the energy you do - or have I got it wrong? I need someone who is very clever to take a look at this and tell me if its worth doing please!

http://www.energysavingtrust.org.uk/Generate-your-own-energy/Sell-your-own-energy/Feed-in-Tariff-Clean-Energy-Cashback-scheme#eligible

Cardew

You need to understand that this is solar PV(i.e. electricity generation) not the solar panels that provide hot water and are a joke in money saving terms.

Long thread here:

http://forums.moneysavingexpert.com/showthread.html?t=2244389

The downside is the large capital outlay(between £10,000 and £20,000) and of course a great many houses will not have a suitable roof for the panels(South facing, large, not shaded by trees)

Payback time depends on what assumptions you want to make, but I don't think even the enthusiasts will claim less than 12 years, sceptics argue 20 years!

Certainly the new Government subsidies(called feed-in tariffs -FIT) have made a big difference to the financial viability of such a system - but enough of a difference to make it worthwhile? The jury is out on this!