On July 24th German energy windmills produced so much power that utility companies paid consumers to take it off the grid.
According to a Bloomberg report this is not such a strange event as you would imagine. It reports that this is the 31st hour this year that energy companies have actually lost money due to the flood of solar panel and windmill electricity that hit the wires.
With more renewables coming on line, as well as the increase of microgeneration where ordinary people put such things as solar power panels on the roofs of their own houses, the traditional power companies are going to find that their plants are operating at full capacity less and less. Not just in Germany but in the UK as well.
But this of course is the plan and why the Feed-In-Tariff (FIT) scheme was put in place. This makes it attractive for the ordinary person to take advantage of green energy and puts a hard downward pressure on the requirement for new fossil and nuclear power plants.
At present, if you invest in solar power panels for example you could receive back a tax free income for 25 years that can equate to a substantial return on your investment. The money it generates can even be put into a Self-Invested Personal Pension (SIPP) friendly vehicle.
Without doing this some of the money you pay to the energy company when you pay your bill is fed into the FIT scheme and paid out to those who qualify for it, i.e. those who have a microgeneration system such as solar panels fitted to their property.
With the price of energy on the increase and the uncertainty ahead for traditional power providers, whether you are a homeowner, landlord, business owner or pure investor, it could be a good time to take a serious look at solar power panels. For more information please either call 0800 690 6361 leaving your contact details or click here to visit the Green Energy Company. If you say that you came from The Economic Voice you could qualify for a Â£100 cash-back if you invest.