solar photovoltaic (pv) production has increased on average by more than 20% each year since 2002, making it the world’s fastest growing energy technology.
PV costs have also plunged since the feed in tariffs were set, down as much as 70% in two years according to Bloomberg.
Interest in solar PV as a renewable energy technology in the UK has therefore rocketed following the introduction of the Feed-in Tariff, presenting a further diversification opportunity for landowners and farmers.
Recent intervention from DECC has proposed reducing the tariff and hence returns and the attractiveness of solar PV but there are still opportunities in what is a long term investment of 25 years. For a well sited solar system with an onsite energy demand, combined with further expected reductions to equipment price, solar PV may still be a good investment beyond the tariff degression date, and a hedge against future electricity price rises.
PV uses solar cells to convert energy from the sun into electricity. The technology has advanced dramatically in recent years and an increase in manufacturing has seen costs decline to a more affordable level. The equipment will last beyond the 25 year life of the tariff and continue to produce electricity.
The tariffs guarantee an RPI linked income, offering a long term and secure income stream. There is, however, currently a race against the clock for solar schemes to be installed, commissioned and generating electricity before 12 December 2011 when the generous tariff rates are set to ‘degress’ by 54%.
Fisher German are well positioned in the marketplace to advise on solar PV and help the development of your project.
We can help with:
- Assessing opportunities on your land
- Project management
- Planning advice
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Due diligence and valuation work
case study 1
Solar project, Nottinghamshire
Planning consent for solar panels in curtilage of a listed building, within green belt and inside a conservation area
case study 2
Solar project, Cornwall
Planning consent and installation of a 50kW ground mounted solar scheme within curtilage of a listed building and within an area of outstanding natural beauty.
key contacts
Contact one of our renewable energy team for further information on solar photovoltaic energy:
01858 411215
Mark Newton
