26 Jan 2016 04:01:23
Could this be the end for Free Solar Panels?
With the recent changes to the UK feed-in tariff rates resulting in a reduction of over 65%, a predicted 30,000 jobs are likely to be lost. This is a massive disappointment for the UK solar industry, which was flourishing, with the uptake of solar panels by homes throughout the countries. One of the biggest changes brought on by the solar pv FIT rate decrease will be with the disappearance of free solar panels.
Free solar panel companies have been able to work, offering free solar panel installation, and consequently free solar electricity to suitable homes across the UK. The free solar panel installers made a profit by collecting the government backed feed-in tariff payments, which made the installation very lucrative for the installers. However, with the recent reduction in the FIT rates, these rent-a-roof schemes are likely to quickly start disappearing, as the financial rewards no longer make this type of operation feasible.
This is a massive disappointment for the UK's renewable energy production, as free solar panels allowed home owners who lacked capital the opportunity to benefit from free and clean solar electricity. The total impact of these FIT changes are still to be seen, however over the coming months it is likely that numerous solar panel installation firms will begin to shut their doors, as demand drops, and free solar panel operators are no longer financially viable.