Solar PV Systems – The Good and the Bad

We are having a new solar PV micro-generation system installed at our home. You can follow its progress here:

http://grey-power.org.uk/solar/

The good thing about having such a system is that our electricity bills will be lower and, with any luck, we will benefit from a tax free income for the next 25 years – assuming, that is, that we survive that long. We will also be reducing the CO2 footprint of our home.

The bad side of the equation is that this decision was made for solely economic grounds, i.e. we are buying into the scheme because it should earn us money in the long term but at the expense of other consumers.

The payments that we will receive, the “FIT” (feed in tariff), is financed by every consumer of electricity in the country – including us!