Time to dust off your Solar PV business plan?
Many local authorities had to shelve their plans to install Solar Photovoltaic (Solar PV) equipment on their dwellings and other properties when the Government cut the Feed In Tariff levels for smaller Solar PV schemes by almost 50% in March 2012.
Since then, the Government has introduced a new "degression" mechanism for future tariff setting which sets in stone when tariff reductions will take place and the variables that will determine the extent of the "cut". Allied to this development has been a continuing fall in the price of Solar PV equipment.
Together these two changes have started to make Solar PV schemes attractive again, especially given that they provide a low risk, RPI-indexed investment which can exceed ordinary commercial investments as well as delivering obvious environmental benefits and providing tenants with a direct financial benefit. In addition, it is possible to structure a Solar PV scheme so that any profits raised accrue to the general fund rather than the HRA which may prove very appealing to local authorities that are under pressure to balance the books.
So if you are thinking of resurrecting plans to install Solar PV, we have put together a list of 10 key legal and commercial considerations:
Ten key considerations before you set up a PV scheme:
Bevan Brittan is one of the country's leading advisers to local authorities with specialist housing, energy and property teams. We have advised a number of local authorities and registered providers on the supply and installation of Solar PV on public sector assets including most recently two local authorities on an innovative joint procurement of Solar PV equipment as well as Alliance Homes on one of the largest Solar PV installations in the country for a registered provider to date. This means our lawyers can provide insightful experience advising on the practical steps involved in setting up Solar PV and other renewable energy schemes.
If you are planning a Solar PV scheme we would be delighted to meet up with you at no obligation to share our experience with you. To set up a meeting to discuss in more detail, please make contact below.
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