Are My Solar Energy Plans Wrecked?

In one day, and after one press statement has my solar journey been ruined before it has really properly got going. Today an announcement was made indicating that subsidies for domestic solar electricity production would be reduced. A new tariff will be introduced cutting my proposed solar system’s subsidies by more than half.

Today the Climate Change and Energy Minister Mr Greg Barker said in his announcement:

“My priority is to put the solar industry on a firm footing so that it can remain a successful and prosperous part of the green economy, and so that it doesn’t fall victim to boom and bust.

“The plummeting costs of solar mean we’ve got no option but to act so that we stay within budget and not threaten the whole viability of the FITs scheme.

“Although I fully realise that adjusting to the new lower tariffs will be a big challenge for many firms, it won’t come as a surprise to many in the solar industry who’ve themselves acknowledged the big fall in costs and the big increase in their rate of return over the past year.

“Our proposal for an energy efficiency requirement, as well as the launch of the Green Deal next autumn, creates a massive opportunity for these firms to use their expertise to get a foothold in this exciting new market.

“People who are now thinking of installing solar PV need to do so with their eyes wide open and I’d encourage them to call the Energy Saving Trust for the latest advice.”

The proposed new rates are:

Well as you can imagine after that bombshell my dreams today are pretty much in tatters. If I’m unable to get the grants as they were I will not be able to pay for the system or at least it will be even more of a gamble to take a risk on generating enough energy to pay for the system plus any maintenance. This in a technology which I am still very unsure of!