Portugal’s former government was very pro renewable energy. Unfortunately with the current rulers we are not that lucky !
10 years ago Prime Minister Socrates started with EU funds the “Feed in Tariff” (FIT), to give back to the grid at very interesting prices of up to €0,68 per kwatt. However the current government turned around all benefits and decided that renewable energy should not be rewarded anymore.
VAT went up on Solar installations, no returns on your IRS and promised tax free FIT investments for life were cancelled, taxed and owners even considered as a 'company' to pay social security, simply not done in civilized countries!
Don’t be fooled: the returns now are a laugh: the first 6 years €0,065 per kw and the next 7 years € 0,145 per kw with a max. production allowed of 5,75kw.
A simple calculation shows you already now pay about €0,18 to €0,20, including iva per kw for your own consumption which only will go up, so what is the point investing €14.000 to give to the government !?
Also your return will be running up to 10 to15 years including all taxes !!
(source of FIT rates: http://www.iea.org/policiesandmeasures/renewableenergy/?country=Portugal)
A small household will consume 1 to 2 kw average per hour. They will have a monthly bill of €300, and in 10 years they will have paid to EDP about €47.500 !!
This is covered by an SHS Solar Solution which produces about 35-40kw per day and the investment is not more than for a “Feed in Tariff” system.
The only difference:
- your own consumption is cut
- no influence by edp price rising
- the value of your property goes up
- returns on your investment in 4-6 years
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