What is it?
Solar Photo-Voltaic is basically solar panels which produce electricity which you can use in your own home or feed back into the national grid.
It depends on how many KW or KiloWatts of power you need or want or are able to generate using your south facing roof, garage roof or in some cases, garden. Ten thousand pounds would buy you all you need to generate a decent 4KW system which is enough for most people. Many homes would get by nicely on a smaller system and could find that almost all of their needs are met without having to buy power from the national grid. But that's not the best bit.
What's the best bit?
The best bit is that subject to having the system installed properly by an approved contractor (that's me very soon) you will be able to claim back 41.3p per KW produced by your panels EVEN IF YOU USE IT YOURSELF. Most people pay around 13.561p per KW from the electricity suppliers so this looks like a great deal. What's more, if you manage to get the tariff this year you will continue to get it paid by the Government, Tax Free for the next 25 years. Of course there's always a catch.
What's the catch then?
The catch is that this is a deal only for early adopters of the technology, basically first people with the vision and guts to invest. If you get it this year your tariff is 41.3 p and set for the next 25 years at that rate (plus inflation), if you get it next year it will be less and so on. The technology is already getting better and cheaper so it's a bit of a gamble as to when the best time to jump on board is but one thing is for sure, at around £800 per year back from the Government, a reduction in the cost of your elecricity and possibly even money from those nice people at the national grid for saving the world by feeding in spare KWs direct to the grid, you would be daft not to find out more. It's better return than any bank account or ISA rate and apparently risk free.
Why should you believe me?
Don't if you don't want but know this - I know that a very large high street bank pension operation is seriously investing in this because the return is around 16% per annum, guaranteed, which is more than can be said of their share portfolios.
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