Solar Pv Still Worth The Investment

Four of the biggest trade associations that work on behalf of the UK solar market

have put forward the argument that solar power is still one of the best investment options available to both businesses and households.

Furthermore, the British Photovoltaic Association (BPVA), the Micropower Council (MPC), the Renewable Energy Association (REA) and the Solar Trade Association (STA) have stated that concerns about solar technology being no longer viable are largely misplaced.

This move by the major trade associations is meant to address the concerns over the governments feed-in tariff, which was launched in spring 2010.

The financial benefits of using solar power are that they offer returns of up to 8% for buyers who want to generate their own electrical power. Since the scheme was launched, over a quarter of a million household solar installations have been listed, totalling over 1.3GW of installed capacity.

Despite the progress made on solar power, a battle over cuts to the scheme has severely affected confidence in the industry which has resulted in a fall in demand in recent weeks, the four bodies stated in a joint statement.

Furthermore, they said a high level of consumer confusion surrounding solar PV and the feed-in tariff scheme may have contributed to the fall in the number of installations.

As well as this, negative media coverage over the last six months, with headlines stating drastic cuts, an illegal consultation, legal wrangling, huge job losses and strict energy efficiency requirements have covered the real facts surrounding solar energy, they stated.

"Thanks to drastically falling costs, solar PV remains one of the best investments around, which shields customers from rising energy bills and generates an income to boot, while helping fight climate change and strengthen energy security," the bodies stated.

The four associations further added that analysts predict that solar power will become cheaper than purchasing electricity from the grid before the end of the decade, saving all consumers money.

Reza Shaybani, chairman of the British Photovoltaic Association, said: "Around a quarter of the UK's aging power generation capacity is due to close over the coming decade. We must cut our dependency to fossil fuel which we have no control over its security of supply or price.

"Solar PV can offer the clean, affordable and secure energy that we need for the future of the United Kingdom. We see investing in clean and green energy as a national duty."

by: Brendan Wilde

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