Member Article

Solar power still viable option for commercial sector

Chesterfield-based solar power specialists, Custom Solar, is urging businesses and home owners to act now by to make the most of subsidies for photovoltaic (PV) systems (solar panels) before the end of the year.

Government proposals to either end or significantly reduce subsidies for power generated by renewable technologies means the financial benefits of solar power will be not be fully realised after 2015.

The consultation proposes to dramatically reduce Feed-in Tariffs (FIT) by up to 87% or abolish them completely by 2020. However, if PV systems are installed before 31 December the current FITs will be applicable for the 20 year lifespan of their installation. A consultation of the FIT scheme was announced on Friday 28 August by the Department of Energy & Climate Change (DECC).

Matthew Brailsford, Managing Director of Custom Solar said: “At first glance it would seem the axe is definitely going to hit hard across the board, especially in sectors where low cost installation is difficult such as residential, education and community projects. It does not mean though that solar is dead, far from it.

“Solar is still a viable and excellent option for commercial power generation. The next move is about adjusting and preparing for the next phase in solar energy. Home owners in particular should act swiftly to make the most of the full cost saving benefits of solar power.”

Currently FITs for photovoltaic (PV) systems (solar panels) of between 1KW to 250KW are between 9.21p - 12.92p. Amongst the reductions proposed, FITs for less than 10KW (a typical domestic installation) will reduce immediately to a flat rate of 1.63p and then reduce quarterly to zero by 2019.

The consultation closes on 23 October with the aim being to introduce either of the two proposed measures by January 2016, the earliest legislative date possible. The reduction in subsidies for renewable energies will decrease the rate of take up resulting in a greater reliance on fossil fuels and a potential return to large scale mining in the UK.

Matthew added: “Experts have forecast that fossil fuels will run out by 2030 and large scale reliance on power generated from gas and coal will cause this country significant problems in the near future. By investing in solar power now and beyond 2015 means you are safeguarding future power generation for your home or business.”

To discuss whether your business or property could benefit from a solar installation contact Custom Solar on 01246 488 488.

Ends.

This was posted in Bdaily's Members' News section by Anna Melton .