There are many companies out there who are going to have a hard time in the coming months, maybe even years. When the Government introduced the “Feed-in-Tariff” there were many companies out there who would have been thinking that all of their Christmases had come at once. They would undoubtedly see an increase in sales with customers now having more of an incentive to buy solar panels.
Well it’s not looking good for these companies who were looking forward to what could very well have been a prosperous few weeks, months or who knows maybe even longer. It looks like solar install, after having such a bright future will be heading back downhill again.
Now that David Cameron and the energy secretary have decided to slash the subsidies we could see an awful lot of the 25,000 people who were recently employed in this industry out of a job and some of them joining the dole queue. We could see solar panels cost rise and that could lead to yet more companies going out of business.
So with the subsidies being halved, it looks like solar power for homes will be on the decline. Undoubtedly, there would have been a few hundred households up and down the country, maybe even a few thousand or hundred thousand that would have snapped some solar panels up.
Daniel Green, Chief Executive of a solar company, Home Sun has said that he had two personal assurances of support from Prime Minister, David Cameron and how he will do his utmost to support the solar industry.
Speaking about the cuts to the subsidies, Daniel Green said: “They have effectively bankrupted thousands of companies; most of them will be gone before Christmas.
“We built a business on the back of David Cameron’s promises. He has betrayed us twice. Anybody thinking of investing in government-sponsored green opportunities, I would advise them to run away.
“All my business will stop with immediate effect if this goes through. It’s an extremely black day.”
