Ofgem, the UK electricity regulator, has reported that homeowners looking to sell electricity from their rooftop wind turbines and solar panels will have to wait 20 years before making profits. the cost of purchase and installation of wind turbines and solar panels means that the return on investment is a long one
There are some 1,500 homes feeding electricity into the grid in the UK and in each case they are being paid approximately the wholesale price of electricity. However, the cost of purchase and installation of wind turbines and solar panels means that the return on investment is a long one. The Chief Executive of Ofgem believes the report that customers are getting a fair price for the electricity being sold back to the grid despite the 20 year payback. Recently the UK Government has reopened the possibility of feed in tariffs as an incentive to get homeowners interested in micro generation and Alistair Darling, the Treasurer, is expected to introduce feed in tariffs in his next budget. The move to tariffs is seen by many environmental groups as the only way forward to boost renewable energy and in Germany, they point out, the UK has a successful precedent. For more information go to www.ofgem.org.uk |