The recent reduction in the feed in Tariff rates has certainly shown a slowdown in installation however we have had 4 post-cut installations with another one confirmed for the end of April.
Being able to produce your own electricity rather than purchasing it from your supplier together with the environmental advantages makes PV an attractive investment decision for many people. Installing a diverter device at the same time such as the iBoost gives you all the hot water benefits that a bespoke solar thermal system would provide for a small part of the cost.
The FITs rates from 1st April 2016 are 4.32p per kW produced on the high rate, with the export tariff of 4.91p
The financial benefit from a typical 4kWp system would be an estimated at £350, if an iBoost is included then £450 – £500. The average return is 4.8% which could save £8000 – £10000 over the 20 years of the FITs scheme.
According to an Ofgem gas and electricity market report energy prices have increased by as much as 32% over the past 5 years and this is set to continue. This means that the predicted savings over the next 20 years could be even greater, protecting you from increasing energy costs by allowing you to generate your own electricity.