Solar Firm Praises National Report on Best Time to Buy Panels

Renewable energy firm Solarlec has praised a national newspaper report enlightening consumers to the savings to be made through solar.

Telegraph Money has compiled data that shows how solar panel government subsidies have fallen over the past five years after peaking between 2010 and 2012.

However, the report reveals the drop in product and installation costs means strong savings are still available - the average system is £5,000 cheaper than it was five years ago.

Telegraph Money claims more than 300 solar panel systems are installed on UK homes every week - which means the government is on track to meet targets of one million a year.

The government feed-in tariff, which is locked in for 20 years and paid to customers who generate their own renewable energy, is reviewed every three months based on how many systems have been fitted throughout the country. The next review will take place in July.

David Weatherall of the Energy Saving Trust said: "There's been an explosion of solar panels across the globe, and although fossil fuel prices are falling, potentially lowering this demand, we still expect a decline in the price of panels.

"The focus is now on setting payments at a level that is high enough to make solar panels cost-effective for householders, while also keeping it at a level low enough so that it doesn't unnecessarily impact other householders' energy bills."

Ged Rowbottom, director at Solarlec, said: "Reports like this show solar panels are still a phenomenal investment for home and business customers. There are real savings to be made and now is the best time to adopt solar to benefit from attractive subsidies paid out quarterly to consumers through their energy provider.

"It's great to see solar continue to grab headlines for its fantastic financial benefits, not to mention its incredible environmental impact."