Homeowners advised to install solar panels now

Homeowners should install solar panels now - as experts predict that the government will reduce incentives dramatically in April 2012.

That's the message from solar panel specialists BSOLAR, based in Halsall, who believe with the growing popularity of panels, the government could make major cuts to the financial incentives they offer for green technology.

At the moment the government runs a scheme which means homeowners who generate electricity from solar panels are guaranteed 44.8p per kWh of energy they generate. On an average system this means that homeowners are earning up to £1500 a year, and panels usually pay for themselves in around 10 years.

It' has already been announced by the government that they will cut this rate in April 2012 by 10%, but BSOLAR now predict that in December the government will review this and possibly cut the rate by 25% next April.

Peter Bladen, director of BSOLAR said: "The solar panel industry has grown beyond anyone's expectations. The fact is the technology and installations are getting cheaper, and people are now getting up to a 15% return on investment year on year. It's an opportunity too good to be missed, so people are cashing in and we've had an explosion of solar panel installations in the last 12 months. As a result it seems very likely the government will reduce the incentives more dramatically than the publicised 10% in April next year. I see it could be more like a 25% cut."

Peter advises homeowners to invest now while the tariff guaranteed is still high. He said: "Solar panels will always represent a good investment but at the moment they are probably one of the best and safest investments you can make. I'd urge people to take advantage of this now, before this is reviewed and the solar panels become a less lucrative investment."

N.B. The information contained in this story is provided by the supplier and does not necessarily reflect the views and opinions of lets-do-diy.com.

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