If you are considering installing solar photovoltaics on your premises to generate your own energy, it may be worth doing it sooner rather than later.
The Government is set to make substantial changes to the popular Feed-in Tariff – the subsidy scheme which pays you for generating renewable electricity and feeding it into the grid. With tariffs for solar PV likely to be reduced by as much as 87% from January 2016, time is running out to capitalise on the comparatively generous payouts that are currently available.
The Government has already announced that from 1 October 2015 it will remove pre-accreditation benefits for all new Feed-in Tariff participants, meaning that installations now need to be completed in full rather than simply commissioned and granted planning permission before tariff payments are guaranteed.
The Government’s proposals also include changing the indexation of tariffs for future applications from Retail Price Index (RPI) to Consumer Price Index (CPI), which may further reduce returns on investment over a project’s lifetime.
According to the Solar Trade Association, the proposals are likely to fuel a “massive market rush” of solar installations over the next few months as new applicants dash to ensure they qualify for the current tariffs before they drop in 2016.
For independent support on what the potential changes mean and the business case for installing solar PV on your premises, contact the Green Growth team on 0161 359 3050 or email firstname.lastname@example.org.