The UK government is all set to start a revolution with its new eco-friendly initiative. It is planning a cash-back incentive for all the solar and wind energy adopters. Homeowners, who switch to clean energy produced by solar panels or wind turbines will be paid a fixed amount. The plan that will be put in action this April will benefit people even if they use the energy themselves.
The Department of Energy and Climate Change (DECC), announced that homeowners adopting clean energy will not only save on their electricity charges, but will also receive fixed rate cash back from their utility. This cash back incentive is expected to be financed by a small extra annual charge on non-adopters of renewable energy after 2020. The homeowners will not only save $225 a year in electricity bills with the installation of the solar panels, but will also benefit from the $1,435 that they get as a cash back annually.
The government claims that the annual cash back rates will be directly proportional to inflation, so will rise through the year. The UK expects to gets about 5.5% of its electricity from renewable sources with their green initiative. This incentive from “feed in tarrifs” will result in switching one in 10 homeowners to solar panels or small wind turbines by 2020.