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Kent Homeowner Cashes In

A homeowner from Kent says he expects to make more money from his rooftop solar panel installation than he would from his bank account.

Reg Oakley, of Kemsing, Sevenoaks, recently had photovoltaic panels installed and hopes his experience will make the process clearer for others. "Money on your roof is better than money in your bank nowadays," he said. "I never saw myself getting them, but when I realised the financial benefits I changed my mind. "The Feed-in Tariff - when households sell their energy back to the grid - of 41.3p per unit generated is available until April 2012. "The amount will drop then, but anyone installing between now and April 2012 will get the 41.3p guaranteed for 25 years."

Feed-in Tariffs mean households can earn up to £1,000 every year - plus about £250 savings on energy bills annually, rising with the rate of inflation. On average, panels for a two-bedroom semi-detached house with a south-facing roof would cost about £12,000. It would take between eight and nine years to make the money back.

Mr Oakley spent a week asking for quotes from different companies and then used their figures to research details online. "I would advise anybody interested to get as much information as possible," he said. "I first thought about solar panels at the beginning of January this year. It took me a week to decide which company to use and to carry out research. "It has taken three days to carry out the work."

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