2018 sees the final run in of the feed in tariff in the UK, which is one of the remaining subsidies available to people and businesses who want to invest in renewable energy technology like wind, hydro or solar pv.
Based on the current arrangements the tariff will no longer exist after March 2019 which means anyone still interested in tapping into this subsidy to help you pay for your solar installation will need to get on with it to avoid missing out.
The good news is that solar panel prices have dropped a lot since the feed in tariff was introduced originally in 2010. A 4wkp solar pv system now costs considerably less around £6-7k vs the old prices we used to see of £12-14k. Big price drops can be seen on all scales of solar pv which is why for high users of electricity (i.e. if you install solar and you anticipate using greater than 70% of its generation) you can achieve double digit returns on your investment without a subsidy at all!
This scenario does not apply to all people, so for anyone planning on investing in a new solar array or adding additional solar to their buildings you need to think about tapping into the feed in tariff if you have a lower electrical use in daytime.
What does the future hold for renewable energy subsidies in the UK?
It is difficult to say with any certainty how much renewable energy will be deployed under the current government on certain technologies as there has been support for off shore wind but a mixed effort to support on shore wind and solar in recent times. That said, solar pv cumulative installations are still growing, it is one of the most popular technologies in the UK by a long way and looking at the global picture solar is expected to be the biggest power source in the world for electricity generation in the future. With grow and scale comes better pricing and more research and development and cheaper and more efficient cells. The future will have no subsidy for renewables as they are already proving they are competitive with dirty fossil fuels which are now being phased out.
Should you wait to invest?
Our advise is no, solar is established, affordable and easy to install and one of the most reliable power sources of any kind. We have shown you a picture of our solar generation yesterday at our HQ in Devizes in this article showing we are self sufficient on a day in January. Solar is a powerful tool and cuts your overheads almost immediately, it is also the perfect partner for battery storage which is technology you should watch and think about next.
Contact us on email@example.com if you have a solar project you wish to develop