Noble revealed to solar manufacturers, installers and industry experts that with government incentives such as the renewables obligation certificate (ROC) and feed-in tariffs (FIT), solar installations are at the peak of their popularity and now is the time for those in the industry to take advantage while they can.
Both the ROC and the FIT have played a large role in encouraging more homeowners to switch to solar electricity in their homes, but will be gradually phased out over the next three years. The ROC scheme, in which households which generate renewable energy receive certificates which allow them to sell power back to the grid, will be closing to new generators in March 2017.
And the rates homeowners receive for the FIT will be gradually reduced over the next few years in order to phase out the scheme by the time the cost of renewable energy has become equal to, or cheaper than the cost of grid energy- a state known as grid parity.
Solar power has already reached grid parity in parts of southern Europe, and Noble predicts that the costs of solar power in the UK will reach this level in the next three years.
As the benefits of using solar electricity increase, the government will take a step back in supporting domestic installations, instead turning its attention to larger-scale generation such as solar fields, in order to keep up with the growing market, and there are movements towards working closer with the construction industry to encourage the incorporation of PV panels into new structures as another way to generate electricity on a larger scale.
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