If you are interested in solar power and were wondering if there are any subsidies or government schemes available then read on as we are going to discuss the schemes available in the UK. PM Modi Yojana
For those of you who are unfamiliar or not too sure what solar power is we will cover it’s benefits to you. We will cover the feed in tariff scheme set up by the government to encourage you to use solar and find out if it is worth taking the step towards generating your own electricity.
So first off what exactly is solar? Solar technologies use the energy we get everyday from the Sun and turn it into useful energy. There are two main technologies for this, solar thermal and photovoltaics. Solar thermal uses the heat from the Sun by using solar hot water panels on your roof to use that heat and turn it into useful energy to run your hot water system.
The main type of solar we are going to focus on is photovoltaics, this also uses solar panels except these ones turn the Suns light into electricity. They would at their best in direct sunlight but also generate electricity on cloudy days as they work by turning light into electrical energy.
With this sort of solar PV system you have panels that need to be installed on a South facing roof. Most South facing roofs in the UK will be suitable for this type of technology. New houses that are yet to be built can take advantage of the newer solar tiles which replaces your roof tiles with solar tiles. Fitting these on new homes helps offset costs as you do not need as many standard tiles.
Up until the governments announced feed in tariff it was not very cost effective of economical to install these panels as the pay back period was too long. With the governments guaranteed 25 year feed in tariff scheme not only does it make financial sense but you will now actually make money back from your investment.
With such a generous scheme not only do you get the free electricity your panels would produce but you would also get the sell back revenue for any excess electricity that you do not use. But the biggest payback is the feed in tariff that pays you for all the electricity your panels produce whether you use the power yourself or not.
So with the governments FIT scheme it now means you can do your bit to be green and at the end of the day not be out off pocket. In fact it has been set up in such a way as you should be able to get a loan to buy the panels and the revenue you receive will more than cover the loan repayments.