Unique New Home Solar Scheme Launches: Could it be the Best Long-Term Investment for UK Households?

BRISTOL, England, Jan. 20, 2011 /PRNewswire/ -- There is some good news for UK homeowners trying to protect themselves against rising energy bills and looking for a guaranteed return on any investment they make this year. SunShare, a new scheme that launched on Monday 17th January 2011, allows UK homeowners to invest in solar panels for their home for only a part of the upfront installation costs. Qualifying UK homes that install solar panels with SunShare will benefit from free electricity and will also be able to earn more than 1000 pounds a year from the government backed Feed-in Tariff scheme.

Mark Wynn, Managing Director of Avonline PLC, the company that launched SunShare, suggested the new scheme could in fact be one of the best long term investment options, given that interest rates are at an all time low. "Any household that's looking for a guaranteed long term investment will struggle to find a better option. Qualifying UK homes can get a fully installed solar PV system for as little as 3,999 pounds. The homeowners who make this investment will subsequently reduce their electricity bills by up to 40%. They will be able to earn over 1000 pounds Sterling a year from Feed-in Tariff payments, add value to their home, protect themselves against escalating energy costs and reduce their carbon footprint, just to mention a few of the benefits."    

SunShare predict that up to 5,000 homes will benefit from their unique scheme in 2011 with a subsequent reduction of 10,000 tonnes of CO2 in the same year. Mark Wynn also points out that any household considering the scheme should act fast: "The government will review the scheme in 2012, which is likely to see The Feed-in Tariff rates changed from April 2013 for any new homes applying for it. There is therefore a window of opportunity now for consumers to take advantage of the current rates on offer, which will be guaranteed for 25 years."

The Feed-in Tariff  is a government backed scheme to promote the installation of renewable energy sites, such as solar panels on home roofs. At present, every qualifying installation is paid 41.3p per kWh of energy produced, regardless of whether it is used by the homeowner or not. The tariff is guaranteed for 25 years and it is index linked if you install a Solar PV System.

The Feed-in Tariff scheme has already proven to be extremely popular with UK households since its launch in April 2010. According to official figures published in January of this year by Ofgem, 2010 saw 10 times the amount of solar installations than any preceding year, making UK the fastest growing solar market in Europe.    

Mark Wynn is confident that 2011 could be another record breaking year, with even more UK households benefiting from solar power and the Feed-in Tariff: "Trying to take on the whole responsibility and costs for a solar installation for your home can be a daunting task and this may have put off quite a few households who considered benefiting from The Feed-in Tariff scheme last year. However, with a unique scheme like Sunshare, upfront installation costs for homeowners will be significantly reduced and a professional partner will take away all the hassle of the installation, ongoing maintenance and the continuous paperwork associated with The Feed-in Tariff throughout the duration of the scheme. In fact we see SunShare as more of a partnership with our customers, where we simplify the whole process and lower the barriers of entry for UK consumers and subsequently share the benefits of this great government backed scheme." You can find out if you qualify for this scheme by visiting http://sunsharesolar.co.uk.

SOURCE SunShare