Nicholas Newman PRO

Nicholas Newman

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A blog for Natwest ContentLive

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Providing an update on recent market and regulatory developments affecting the usage of solar power in the UK.

Sample

While solar installations have taken a knock, the technology’s long-term prospects remain positive.

Recent falls in the cost of installing on-site solar power generation, whether for heating or electricity, have boosted uptake of the technology among businesses, in preference to oil, gas, biomass and wind installations. According to figures published by the Department for Business, Energy & Industrial Strategy, total UK solar deployment for photovoltaic (PV) installations generating up to 5 megawatts (MW) reached above 6 gigawatts (GW) in May 2017. This is up from approximately 3GW in May 2014.

However, there are fears that diminishing subsidy support for solar as against other types of renewables may stop this rising trend in its tracks. According to Dr Chris Jardine, technical director at Joju Solar, installation of solar photovoltaic (PV) “rates are about quarter of the levels of 2015 but are recovering slowly”. http://natwest.contentlive.co.uk/content/d696c6f9-3464-9144-9279-b40932002922