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March 21, 2014Reasons for Solar boom in UK
Solar energy in UK is booming, with more than 2000 MW of solar energy expected to be installed in the country in 2014, as large ground mounted installations are expected to boom. The UK market has been an off and on market with the authorities frequently changing their stance on subsidies for solar energy. Despite the constant flip flops and the low levels of solar radiation, solar energy in UK has thrived. The main reasons for the boom in solar energy are:
1) Close proximity to the flourishing solar energy industry in Europe
2) Drastic decline in solar panel costs
3) Renewable Obligation market which is giving a good return to sellers of renewable energy.
Solar energy in UK will get 1.4 certificates instead of the 1.6 now, but the low costs of solar systems will ensure that even at the lowered rate, solar panel installations will provide a decent ROI. Solarbuzz has recently raised its forecast for solar energy demand in UK to 2.5 GW, which is 10% higher than the earlier projections.
Solar energy demand is growing at a breakneck speed throughout the world as the sharply lowered cost of solar systems are making them increasingly viable, compared to the expensive carbon emitting fossil fuel energy sources. Even as governments are reducing subsidy support, solar energy is still increasing at a rapid pace as their costs have come down dramatically.