The Government has introduced several incentives over the last decade to accelerate the installation of solar photovoltaic (Solar PV) systems, as they can harness solar power and convert the energy into a form that we can use, namely electricity.
Previous initiatives have been based upon a system of grants and tax incentives. These have failed to capture the popular imagination, as they have been insufficiently generous to entice the investment community into solar PV systems.
As of the 1st April 2010, the Government introduced a system of Feed in Tariffs. This system provides performance related payments, linked to the Retail Price Index for energy produced by approved solar PV systems over a 25 year period. The payments have been set by the Government at a rate that will entice those looking for a long term investment to consider renewable energy as a vehicle to obtain a secure return on investment.