The UK solar PV industry is having a bit of as tough time at present. The number of installations has taken a tumble since the Feed In Tariff’s (FIT’s) were cut from 43p to 21p per kWh. Also since the 1st April 2012 all new retrofit installations require an Energy Performance Certificate with is further restricting growth.
The issue is that campaigns such as “Cut Don’t Kill†were great for trying to support the industry, however they may have been too successful in promoting the wrong message. For many consumers the first time they really engaged with the subject of Solar PV would have been as a result of negative press around the cuts. So much focus has been placed on the cut in the feed in tariff’s that people have lost sight of the facts. Solar still makes huge sense both from a financial point of view and an environmental one.
The cost of installation has dropped dramatically in the past few years. Back in 2011 at the start of the FIT’s you could have installed a 1,700 kWh system for around £9000. These days you can install a 3,400 kWh for less than that (£8500). So when you look at the return you receive it works out very similar (around 9% per annum). So from a financial perspective solar definitely still makes sense, it’s just the current perception that people have which is holding them back.
People often kick themselves that they did not install solar sooner. We all remember the rush when the FIT’s got cut and the desperation to grab what was perceived as a bargain. People wished they could go back in time and install at the higher rate. Well in a few years’ time people will be kicking themselves again that they didn’t act sooner. As their energy bills rise and the FIT’s are phased out people will be saying “why didn’t I install solar whilst there was a FIT in placeâ€.
However those a bit more clued up and care a bit more about the environment will be rewarded with fantastic returns after a 10 year period, much lower energy bills and a sense that they have helped contribute to meeting out targets for green energy.
For those in the industry like ourselves at Solar PV Tools we know that this market will continue to grow. The cuts have done one good thing and that is cleared out many of the fast buck operators who were looking to simply cash in the FIT’s.
So if you are one of those in it for the long term be sure to check out the Solar PV Tools we have on offer. Not only are they all tried and tested, they are also amongst the cheapest online.
Solar PV Tools were established in 2010 by Joe Bennett. Originally they supplied tools to solar PV trainees, however they soon grew and launched a dedicated website selling tools direct to the public. They offer a huge range of solar PV tools including a range of specially designed tool kits. To find out more visit www.solarpvtools.co.uk.
