There will be a hike in power rates in April 2010 throughout the United Kingdom. People, who are generating power on their own, using solar means, will now be allowed to sell their excess electricity back to the utilities grid at a higher rate than the regular charges of consumption. The question is that will this fact turn more people towards solar generation?

At present, anyone who has had solar panel installation on their home can already sell their excess electricity back to the grid. However, the rates are very poor in comparison to nations like Germany. Under the new plans, utilities companies will have to pay UK consumers who generate solar electricity, more per unit to buy it from them than the rate at which they sell their own electricity. This is because electricity generated through solar means is more expensive to produce than that generated through fossil fuels.

The new raise in the price is expected to persuade more people to install solar plates at their homes. This will lead them to earn a handsome amount of money while they are at jobs or away from home on holidays.

Apart from the difference in the rate, there is no other financial gain from this. Although you will see a great reduction in electricity bills, the real value addition is that adding solar panels will increase the value of your house by up to 10% of the total net worth of the house. So, adding solar panels is not just a matter of convenience, but also a sound long-term financial planning.

As our gradual shift towards eco-friendly power generation continues and global governments continue to pledge increased uptake of resources such as solar panels, leaders will find more and more ways to encourage people to invest in renewable energy alternatives. This in itself can only be positive when it comes to encouraging people to make the solar choice!