Solar power industry growth threatened by UK gov cuts

The UK government is trying to push funding cuts to solar power schemes through parliament, some say illegally, so they can cut the payments earned through the FiT scheme.

At the moment homeowners can earn 43p per KW of energy they feed back to the national grid from their solar panels, making considerable profit over time. This rate of payment was supposedly set for the next 25 years, but now proposals to cut the payments down to 21p per KW are leaving many wondering whether its worth the investment to go solar.

The truth is homeowners could save £70-£130 a year on electricity bills alone by installing solar panels at in their house, as well as becoming independent from big energy companies charging high rates for their energy. It has even been shown in studies that having modern solar PV panel systems installed increases the value of a house and makes it more attractive to prospective buyers, who may choose it over another home simply because of the energy savings they could make.

For people more concerned with saving the planet than saving money, solar power is still the cleanest way to go green with electricity and reduce your carbon footprint.

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