Act now to take full advantage of solar power subsidies
Chesterfield-based solar power specialist, Custom Solar, is urging businesses and home owners to make the most of subsidies for photovoltaic (PV) systems (solar panels) before changes come in at 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.
A consultation of the Feed-in-Tariff (FIT) scheme was announced on Friday 28 August by the Department of Energy & Climate Change (DECC). The consultation proposes to dramatically reduce FITs by up to 87% or, if cost control measures are not implemented to make the scheme sustainable, then the Government would end generation tariffs for new applicants. Tariffs would end as soon as legislatively possible, which would likely be January 2016.
Matthew Brailsford, Managing Director of Custom Solar said: “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.”
The amount currently paid for solar electricity between 1KW to 250KW is between 9.21p – 12.92p. Amongst the reductions proposed, the tariff 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.
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.”
