The Department of Energy and Climate Change (DECC) issued a statement on the 27th August 2015 that they will undertake a consultation to review the current level of Feed-in-Tariffs applicable to UK Solar Panels.
Information about the planned review can be found via the link below:
The upshot after the media frenzy of citing the end of Solar Panels with the government intending to drastically slash the rates by around 90% is that industry bodies are trying to negotiate a way forward that will allow more time for a slower decrease in the Feed-in-Tariff, as has been ongoing for the last few years, much of it unnoticed due to the low amounts involved.
Whilst the review is not constructive or positive to supporting the need for clean renewable energy, it does draw a focus to the real need of why we should consider installing Solar Panels on our homes and businesses. By generating our own electricity we can become more self- sufficient and save money on electricity bills. As energy prices will undoubtedly rise, the savings for those with solar panels will increase over the years. At a time when the USA are committing to funding more solar it is strange that the UK is trying to stop the market from growing positively.
Technology within the industry will undoubtedly move forward at a faster pace with the pending reductions and the exciting development of battery storage is just one area that will play a major role in our future energy needs.
If you are thinking about installing solar panels, then now is a good time to do it to gain the Feed-in-Tariff as it stands and be locked into that rate for the next 20 years, but at the same time, long term planning and vision on how we use and store energy is of paramount importance. The balance between income earnt and savings, self-sufficiency must be considered in a focused fashion.
Utilising a wider range of renewable solutions to change our perspective on energy, such as Air and Ground Source Heat Pumps coupled with solar panels and smart switches is a great starting point. The current Renewable Heat Incentive (RHI) makes the use of heat pumps an excellent opportunity.
If you would like more information about how you can benefit please call Paul O’Connor on 01531 – 828 782 today.