Is UK the right place for Solar Power?

Enthusiasts were jubilant for the 24 hours that this momentous event lasted. Many are probably still in that mood. As the dust settles, the question many people are asking is whether solar has finally found a resting place in the UK. Is the future clear enough for property owners and stakeholders in the industry to hold steady? Here is why I think the idea of a solar-powered UK is still feasible.

The European commission has been at the centre of price controls through the Minimum Import Pricing (MIP) policy. With the UK import price for panels standing at a relatively high €0.56/watt, some people would say the market is on a staggering path.

However, there are signs of the Commission receding on its decision to control importation of solar panels. The Renewable Energy Association (REA) has been critical that the MIP must be removed. It has put both the Commission and Department for Energy on the spot in the process. A future of more affordable panels may be in the horizon, considering that the two organizations have indicated willingness to look into the importation impasse.

It is not a secret that UK’s energy grid is not good enough to cater for grid connection of solar and other clean sources. However, there is good news for investors and homeowners-Thermal energy and other storage technologies are on the growth path. Once the regulatory and policy hurdles are cleared, property owners will have access to affordable clean power when and where they need it.

About 82% of UK buyers are ready to pay more for homes that allow them to enhance green living, according to Redrow. This was echoed by the Department of Energy and Climate Change (DECC) on its recent research, which took account of over 300,000 properties sold in England. DECC confirmed that “making energy saving improvements to your property could increase its value by 14 per cent on average and up to 38 per cent in some parts of England” Solar systems are in this category. Moreover, solar panels are good for higher EPC rating. The higher the rating, the more valuable a house becomes. If you are thinking of installing solar power in your home, the business angle of this investment should at least urge you on.

Is the future worth waiting for solar power in the UK? True, the government is gradually withdrawing its support for the sector and the EU is not helping matters. The poor electricity grid is also an obstacle. This can only mean the years ahead are going to be tough, but it does not portend the end of the road. Solar products and installations will most likely become more affordable eventually. Coupling this with the fast growth of energy storage technologies and increase in home value, there is only one direction for solar power in the UK-growth like the rest of the world.