Any savvy landlord will likely be searching for any approach to boost the income from your property – as well as the new buzz word appropriate now is solar panels. So, is this a viable way to boost your earnings? Let’s check out the nitty gritty involved.

There is no doubting that installing solar panels is costly, but if you’re in property for the long term then this may be a genuine and true way of producing added income.

1. Simply because solar energy is only just starting to gain recognition within the UK, the government is keen to encourage folks to install panels. To this finish, they’ve introduced what’s recognized as a ‘Feed-In tariff,’ or Clean Power Money Back Scheme. Basically, what this indicates is that all of the electrical energy your solar panels generate will offer you an annual government payment for the next 25 years. The quantity per kWh is 43.three pence which, depending on average systems, equates to about £1000 per year.

And, this payment is guaranteed tax no cost and index linked for the entire from the 25 year period.

2. You’ll also obtain payment for any electricity which you do not use and is fed back to the national grid at the rate of 3.1 pence per kWh.

three. Installing solar panels is extremely likely to enhance the worth of your property. It’ll also make the property far a lot more desirable to tenants as solar panels are likely to generate about 50% of all of the electrical energy utilised in the house. The electricity supplied by the solar panels is effectively totally free – which means your tenants will probably be protected from ever rising energy costs.4. Needless to say, don’t forget the environmental aspects, as fitting solar power panels to your property can save more than a tonne of CO2 emissions each and every and every year. This will likely also make your property far more attractive to possible tenants, as far more and more people are becoming environmentally aware.