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Over the next decade energy prices are set to continue rising in the way they have been for the last few years. While people are beginning to look for alternative ways from nuclear to generate power, and environmentally friendly option like solar power is a great alternative.

Using solar PV panels to generate your own power for your home or office can be a viable alternative to using nuclear power, and can help to reduce your CO2 emissions. It can also significantly reduce your bills, and raise the resale value of your home by 1%.

So what are the financial benefits of using solar power? Installation and purchasing are the only costs you'll incur to set up your solar power source. The panels themselves require very little upkeep. They can reduce your energy bills by a huge amount, by allowing you to generate your own power by harnessing the suns light and radiation.

There are even more financial benefits to using solar power, thanks to a new tariff introduced in April 2010. Called the UK Feed-In Tariff, it offers solar users across England, Scotland and Wales the chance to earn cash back. Basically, you will be paid for all of the energy you produce through your solar PV panels, whether you use it all for your own needs or not. And since solar power is more expensive to generate than nuclear power, you will be paid at a higher rate than the utility companies.

If you sell your unused energy back to the national grid you will receive 44.3p for every unit, and for the energy you use yourself you can expect to receive 41.3p. Investing in solar power is very worthwhile. It can allow you to reduce your running costs, reduce your CO2 emissions, and make money, regardless of whether you use all of your energy or not.

Find out more about the UK feed in tariff rates

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