Regards, Mr Pierce.

Why has it happened?

The reason for the reduction is because panel prices are falling fast and the government was worried that the benefits were too great. To a degree they had a point, as in the last month or so a 4 kW system was generating a return in the region of 12 to 14 % because panel prices were dropping so quickly.

What does this mean to you?

The feed-in tariff rate for systems up to 4 kW has been reduced from 43p to 21p. On the face of it that may be appear to be too much of a cut to make an investment worthwhile, however…

What will happen now?

Once the rush is over on the 12th of December there will be a lull in activity whilst everyone catches their breath and there is a reassessment of charges. Panels in the UK are still significantly more expensive than in the rest of Europe and need to come down in price. We are convinced that they will and when they do, we will pass that saving on immediately to you.

We are anticipating that by February 2012 the prices will have reduced enough to generate a return on investment of 10 %. We have looked today, 7th November 2011, at the best rates available from savings accounts and ISAs and we cannot find an account on the high street that offers more than 4 %.

What is the value of an investment now?

On a 4kW system install at a cost of £9,500 including VAT, the financial benefits to you would be £950 per year. That return is index linked and guaranteed for 25 years, so would mean an income over the period of the scheme of £32,000 (at 3% RPI).

All the above does not take into account the imminent energy price rises from the big six energy companies in the UK. Last year energy prices rose in excess of 20 % for most customers. By installing a solar system you are protecting yourself against those future price rises.

The Weavers’ Triangle is the area astride the Leeds and Liverpool Canal that was once at the heart of Burnley’s textile industry.

The purpose of the reception was to update the Prince on the regeneration of the Weaver’s Triangle, in which The Low Carbon Energy Company are located, and to introduce him to key players involved in the area.

Richard said, ‘It was an honour to meet Prince Charles again and to explain the developments that have been taking place in the local
area.  We know that sustainability is a subject close to his heart, and we are delighted to be able demonstrate the work that we’ve been doing at the former Clock Tower Mill Offices and on domestic and commercial properties in the local area.”

The Low Carbon Energy Company operates from the former Clock Tower Mill offices in the Weaver’s Triangle and has used its knowledge and expertise in micro-renewables to install solar panels, creating a sustainable energy source which is in keeping with the historic area.

See the article here

The Independent – 19th September 2010

See the article here

To see this article on The Independent website, please click here