Despite the uncertainty surrounding the UK solar photovoltaic industry, the fact remains that with the feed-in tariff in place in any form, there will continue to be a market for investors. The coalition government has announced that they will be changing the feed-in tariff to focus on smaller scale, roof-mounted solar installations to the detriment of large scale solar farms.
However, for those installing solar pv panels, there are still very healthy returns to be had from the payments which come from the feed-in tariff scheme something which Eco Environments believe is the main catalyst behind the growth of the industry in the UK.
There is a very evident media focus on climate change and the resulting political rhetoric which follows and also, a growing culture of awareness in green energy, recycling and the need to dramatically reduce carbon emissions on a domestic level. David Hunt of Eco Environments believes however that the growing interest in installing household, roof-mounted solar panels comes not from a desire to be environmentally friendly but from the commercial advantages which come as part of the feed-in tariff.
Hunt believes that,
“Most people are looking at it now domestically because they are going to get two or three per cent on an ISA or out of the bank account, but with the solar they can get 15 per cent”.
At a time where it is very hard to find savings accounts offering attractive interest rates and there is a worldwide lack of confidence in traditional investment opportunities in the stock market, it is perhaps unsurprising that the great majority of people look to install solar panels for purely financial reasons. After all, while it is the government’s business to meet carbon reduction targets and appear to be environmentally friendly, it is the homeowners business to dramatically reduce their utility bill while hopefully creating a very steady revenue stream on the side