There are a number of great reasons to install photovoltaic panels or tiles on your roof. They can significantly cut your energy bills, reduce your carbon footprint and, perhaps most enticingly of all, there is the potential to sell any excess energy you earn back to your supplier. But are domestic photovoltaics really a good investment, or do the numbers simply fail to stack up?

Feed-in Tariffs

Feed-in tariffs are part of a government scheme to encourage homeowners to invest in renewable energy technology. The scheme was introduced in April 2010 and requires your energy supplier to pay you for every unit of electricity you generate, even if you use it yourself. The amount they pay you is index-linked and guaranteed for 20 years, making photovoltaics one of the safest investments around.

The numbers

According to new research by Green Business Watch, the amount you can earn through feed-in tariffs has fallen steadily since the scheme was introduced. In 2010 you would have earned 41.3p per kilowatt hour of electricity you generated. In 2013 that had fallen to 15.44p/kWh and for 2014 the feed-in tariff was worth just 14.38p/kWh.

However, the cost of installing photovoltaics has dropped just as dramatically over the same time period, with the average installation now costing around a third of what it would have in 2010. Energy prices have also risen significantly, meaning that overall photovoltaics are now an even better investment than they were previously.

Why you shouldn’t wait to invest

As energy prices are only likely to increase further in the foreseeable future, investing in photovoltaics now has the potential to save you more money with each passing year. It’s also worth bearing in mind that if the value of the feed-in tariffs does continue to fall, waiting just a year before joining the scheme could cost you significantly. As the 20 years of guaranteed payments are set at the rate of the feed-in tariffs when you join the scheme a difference on a penny or even a tenth of a penny per kilowatt hour could really add up.

Metrotile offer a range of state-of-the-art photovoltaic tiles which can be mounted on top of your existing roof or installed flush with the roof surface for a less obtrusive, more aesthetically pleasing appearance. To find out more call today on 01249 658 514 or fill out our online contact form and we will get back to you.