Feed-in tariffs reduce payback period for photovoltaic arrays

Mitsubishi Electric has welcomed the announcement by Ed Milliband, secretary of state for energy and climate change of new feed-in tariff levels.

The announcement, made on 1 February details the payments that will be made to homes and communities who install power generating technologies such as photovoltaic arrays. Anyone using such technology will be able to claim payments for the low carbon electricity they produce.

The initiative is designed to bring about a significant increase in the amount of locally produced green energy, as a contribution to the wider shift of the energy mix to low carbon.

"The feed-in tariff will help to change the way we think about the energy needs of our buildings and significantly reduce the payback period," said Perry Jackson, general manager of the company's photovoltaic department.

"According to the Minister's statement, a typical 2.5kW well-sited PV installation could offer a homeowner a reward of up to £900 and save them £140 a year on their electricity bill."

"Solar PV technology is already proving one of the most popular uptakes in renewable energy sources and this announcement will have a significant impact reducing fuel poverty and cutting carbon," added Jackson.

Mitsubishi Electric PV modules use solar cells to convert sunlight directly into electricity, allowing for reductions in both property running costs and environmental impact.