BACK in 2011 solar panels were being snapped up like hot cakes thanks to a generous feed-in-tariff scheme which paid large sums to those who installed them.
Fast forward two years, and as tariffs were slashed, sales slumped, but will the recent energy price hikes, cold weather and worries about energy stability lead to a second coming?
The winter we’ve just had was the coldest and longest most can remember, and bills were sky high as residents were forced to heat their homes for an extra month or two while energy companies greedily hiked their prices.
Not only that, but there was uncertainty about whether we even had enough gas in the UK to keep on powering our homes and businesses.
Papers ran stories suggesting at one point we only had a week’s worth left of gas.
Clearly something has to be done, and as consumers realize their energy supply is no longer as cheap, reliable and efficient as it once was, changes will have to be made.
One of the most obvious changes will be the rise of solar PV installations.
Solar panels allow home-owners to power their homes for free, as well as generating payment for both the energy they do use, and the excess energy that is exported back to the grid.
Not only do they offer an average ROI of 10%, solar panels are now available on the Green Deal (a government scheme designed to improve household energy efficiency).
The DECC estimates a home owner could get a £2,600 loan for a 4kw solar PV panel costing £7,000. This means the resident would have to raise £4,400 themselves, while making and saving £860 a year.
Other options which look likely to take off are crowd funded solar projects.
Companies like Abundance in UK offer people the chance to invest as little as £5 to solar panels projects, seeing a return on investment as well as the knowledge they have helped out a community project.
All of these incentives, should lead to greater investment and development in solar panels, bringing prices down and increasing their popularity.
