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Location :: Blog » Installers » Mitigating the effects of inflation with solar panels...


Mitigating the effects of inflation with solar panels...

posted on: May 8th, 2012
Mitigating the effects of inflation with solar panels

There's no denying that economic conditions remain tough in the UK. Like a lot of consumers, you may be feeling the financial pinch and one of the issues on your mind might be the rising cost of electricity.

The days of care-free energy use are over. As the world's supplies of fossil fuels continue to diminish, the price of oil, coal and gas rise. Despite the occasional short-term reversal of this trend, the general pattern looks set to continue for the foreseeable future.

With this in mind, now might be the perfect time for you to invest in solar panels for your home. This technology has never been more accessible.

Inflation is hitting household budgets

Recently, it was revealed that the UK consumer prices index rose in March for the first time in six months. It increased from 3.4 per cent in February to 3.5 per cent the following month, the Office for National Statistics noted.

Figures like this may make you more mindful of your energy use and the appeal of solar panel installations might become even stronger.

The impact of energy spending on household budgets

Responding to the findings, chief UK economist at consultancy Capital Economics Vicky Redwood noted that spending on gas and electricity has an impact on the headline rate of inflation, the Herald Scotland reports. She pointed out that last year, there were rises in utility prices.

Indeed, in the summer of 2011 a number of the major energy firms in the UK hiked their tariffs considerably, placing extra strain on consumers.

Peace of mind with solar energy

Of course, there's relatively little you can do about these major trends. Being able to influence the prices set by utility companies or making the cost of energy production fall are simply not realistic goals.

However, by taking advantage of solar PV panels, you can reduce your dependence on mains power, thus mitigating the effect energy price inflation has on your personal finances. This could be a great feeling and it enables you to gain a greater sense of control over your budget.

Making the most of solar technology

Of course, to make the most of technology like this, it's vital that you find the best solar panel companies around. Having access to firms that provide the highest quality panels, provide superb installations and offer competitive prices is key if you're to benefit from the most favourable outcomes.

Here at Solarpvpanels Online we can help you achieve precisely this. By using our website, you can get quotes from a number of specialists in your area, making the process of finding the most suitable deals quick and simple.

The Feed-In Tariff

Meanwhile, once your system is up and running, you stand to make money through the government's Feed-in Tariff scheme. If you qualify, you can receive regular payments by exporting some of the electricity your system produces to utility firms through the National Grid.

This is a great way to offset some of the initial setup costs of the projects and earn some money back.