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FIT Kerfuffle

As we went to Press the Government’s revised FIT payments had been judged ‘unlawful’ for the want of proper industry consultation. It’s certainly true that Solar PV has proven to be extremely popular, but this is partly attributable to the continuing ‘low interest rate’ economy.

This inspired many hard working trades’ people to retrain as solar PV installers precipitating something of a gold rush. The reality is that Solar energy installations require a fusion of skills and experience that cannot be quickly ‘trained in’.

Hopefully a proper FIT consultation will now take place hopefully resulting in a credible outcome that does not completely destroy the solar PV industry. However, a question remains over which FIT payment scheme will operate from December 12th 2011 to April 2012. The Government wants to pay 21 pence per kWh, but in theory it might legally have to revert to the former 43.3 pence per kWh.

Solar PV hardware prices have fallen in the wake of the planned imposition of 21 pence, some brands by more than others. This has enabled Salop Energy to source branded products on favourable terms to the point that a 10% annual return can be maintained.

Subject to contracting with a FIT Licensee, a UK homeowner installing a Salop Energy £7,999 budget brand system today would expect an annual return of around 10% based on a FIT payment of 21 pence per kWh. That rate of return of would more than double if the Government reverted back to the previous 43.3 pence schedule for pre April 2012 new market entrants.

It’s just a thought!