Major cuts to the renewables sector has issued what many are calling the end of the solar boom following the UK government’s announcement last month.
In a shocking move for the industry, ministers have planned to slash the amount paid to homeowners who install solar panels by 87 percent from April 2016, effectively lowering payments by up to £192 per year.
The Department of Energy and Climate Change has stated that those who have already installed solar panels will not see their subsidies cut. According to the energy department, the proposed cuts are part of an effort to tackle industry overspend, which has a recorded excess of £800 million a year and nearly double what ministers had predicted.
As part of the new proposals for next year, the amount paid to homeowners will reduce from the current rate of 12.42p per kWH, on a property powering 4kW or less, to 1.63p per kWh on the Feed-in-Tariff. And that’s why installing a solar PV panel now is crucial to ensure maximum profitability.
Solar panels that are installed between now and April 2016 will not suffer from the 87 percent cut, remaining at the current rate from the time of registration. Opting for a Wil-Lec solar PV panel now will guarantee you cleaner energy from the moment it’s installed.
Speaking of the government cuts, Dr Doug Parr from Greenpeace said: “The timing couldn’t be worse as the young and potentially booming solar industry is on track to go subsidy free but if these cuts happen, it will be too sudden, too soon and too dramatic.”
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