Solar tax-free incentive expected to increase demand amongst the residential sector

(22/01/2010)

Mitsubishi Electric has issued a cautious welcome to the announcement that household sales of excess power from solar panels to the national grid will be tax-free from next April.

Solar Photovoltaic (PV) modules produced by the company are already eligible for grants of up to 50% towards installation costs under the Microgeneration Certification Scheme (MCS) and the tax-free incentive is now expected to help increase demand amongst the residential sector.

“Solar PV technology is already proving one of the most popular uptakes in renewable energy sources,” said Perry Jackson, General Manager of the company’s Photovoltaic Department. “This announcement will give a much needed boost to the market and help households save money and reduce their carbon footprints.”

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

Related categories:  Residential applications   Solar heating