Solar 'still fuel of the future' - boss
Maxwell Kusi Obodum • Published 13 Nov 2011 12:00
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A HOME improvements boss who opened a flagship solar power showroom just days before the Government slashed a much vaunted green energy deal, still insists the technology can fuel our futures.
Andy Young, managing director of west Reading company Abbey Windows, is refusing to let Westminster's controversial solar photovoltaic panel Feed in Tariff (FiT) u-turn rain on his new business venture.
He moved his offices from Cardiff Road to Portman Road last month and has teamed up with renewable energy company Croston Energy Solutions to offer customers the technology to complement his windows, doors and guttering range.
But last week the Department for Energy and Climate Change announced it is halving payments made in return for energy produced for the National Grid by small units built after December 12, and by roughly 30% for larger installations. Owners of more than one site will see a further 20% reduction.
But Mr Young stressed people would still get 8% profits after recouping their start-up costs and the price of installing panels would fall as technology improved. He said: "Rates may have dropped but the investment still beats stocks and shares and most ISAs, and as energy prices increase so will the real returns. Solar is an important part of our future and we see it as a good investment environmentally and financially."
He admitted the Government's previous system was "unsustainable" and ministers had been surprised by the number of large companies in particular which had taken advantage of it.
Reading company Photon Energy has written to Reading East MP Rob Wilson outlining its concerns and he issued an invitation to its bosses to meet energy minister Greg Barker later this month.
Mr Wilson said the payments could not be sustained as they were, because of the fall in price and high take-up of solar technology, but agreed the cut-off for consultation - December 23 - was too early.
He added: "The Government has encouraged companies and businesses to go further with alternative energy and has a responsibility to do the right thing by them."
Reading West MP Alok Sharma and Royals chief Sir John Madejski are among the guests at Abbey Windows' official launch party on Friday next week.
This article appeared in Reading Chronicle 10 Nov 11
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tomb62
1 post
Nov 14, 13:30
Report commentIt’s a shame the Feed In Tariff is being badly managed by the 'greenest government yet' - but this all means that only the strong, capable solar companies will survive.
The real threat is to the consumer, some of who might be already risking their money by booking an installation from a company that knows they won’t be in business by 2012.
It’s imperative that anyone considering a solar PV system should book their installation right away and buy from a strong, trustworthy company.
http://www.solardirectsavings.co.uk
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Howard Thomas
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Nov 15, 19:15
Report commentThis has clearly been a cock up from the word go. the FIT was set to high at 43.3 for too long. It should have been about 35p for a year and then it could have been sensibly adjusted to take account of the market and current costs. Having got it so wrong once it is interesting to wonder if there is any chance that the government have it right now !
The 'consultation' ends on Dec 23rd, 11 days after the rate has changed ! Is there really any point in the consultation when the decision has already been taken. This is so so similar to RBC consultations organised by Tony Page. Spooky!
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