Leading renewables company Redsky Solar is advising companies considering switching to solar power to act now after the Government announced cuts to the money it pays those who generate solar energy.
The Government currently pays a Feed-in Tariff to those generating solar electricity and this can be particularly profitable for warehouses, distribution centres and others with large premises who can install large solar arrays on wasted roof space.
However, the Feed-in Tariff rate is set to be cut by up to 87 per cent to around 1.63p per unit from January 2016 onwards.
MD of Redsky, Paul Smith said: “The Government’s announcement that Feed-in Tariffs will be cut drastically in January means that time is running out for those considering switching to solar to profit from these incentives.
“Installing solar panels is a great way to make money from wasted roof space but companies only have until around late October to sign up so that installation can take place in time to secure the higher rate and fix it for 20 years.
“We would encourage anyone considering solar to act now and secure maximum profit from their system.”
Redsky Solar installed a 1000 panel solar array on the warehouse roof for distributor AV Dawson. The Solar PV system was designed to generate 194,250 kWh in its first year, resulting in an income of around £23,844 from government subsidies and a pay back period for the system of six years.
Redsky Solar is a subsidiary of leading roofing contractor Longworth Group and is a member of the National Federation of Roofing Contractors.
Tel: 0151 556 0535