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Solar panels have become financially viable says Heat my Home
60% rise in energy bills per annum over the next decade, Stuart Lovatt of Heat my Home adds; “The age of easy and cheap oil is coming to an end. It doesn't suddenly come to an end; obviously it's a gradual change, but we're moving away from cheap oil at a much faster pace with increasingly difficult to extract oil and an outdated energy infrastructure here in the UK, which will push energy bills up further over the coming years."
The UK Energy Research Centre has added, there is a 'significant risk' that global oil production will peak in less than ten years time. It also says that there is a growing consensus that discovery of new oil had peaked in the early 60s. Since then, new oil fields have got smaller and smaller.
The future of energy is unknown but what we do know is global reserves are finite, and global demand has increased, meaning there has to be a day when supply and demand rules dictate higher energy as a best case scenario or a global supply famine as a worse case scenario.
For those concerned about climate change, an unsatisfactory conclusion is that high oil prices resulting from a peak in production might encourage countries to start converting non-liquid fuels like coal to liquid fuels to plug the gap. These techniques are carbon intensive and will only put more carbon dioxide into the atmosphere, making climate change worse. So how does all this make solar panels financially viable? With increasing energy pricing globally, this makes extraction of raw materials, manufacture and installing of such a system more and more expensive as the chronological clock ticks.
Stuart Lovatt of Heat my Home says: “We have promoted the use of solar panels when solar was still a green product and only bought by environmental orientated people. A lot has happened in the last 5 years and the UK is slowly waking up to the realities it faces with energy security, continued energy price rises and the global energy issue’s. Suddenly solar panels are a real financial benefit and are installed not just by green’s, but also energy savvy people with a longer term view.
Yes, quality is important when choosing a system but equally you have considered the costs. I see installing a solar panel system or solar tubes just like having a new kitchen or bathroom. You would not the let consider the cheapest quote because you run the risk of a poor tradesman and/or damage to your property due to poor workmanship. Exactly the same principle should apply when installing solar panels.
The way we see solar panels in the UK, is as a long term investment. Not in green terms although this in itself should be long term view, but because they have such a long lifespan, typically 30 years they are viewed as a long term investment financially as energy prices will forever keep rising, and/or increasing the value and sell ability of your home so a homeowner can benefit even if they decide to not stay in their current property.
Heat my Home has been promoting the use of solar and is educational, so people can find a quality solar system worth their investment.
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