Early signs suggest that the solar market will remain strong despite the cut in the Feed-in Tariff scheme (FITs).
As the price of solar panels has continued to decrease in 2015, the demand for solar has only increased and we saw more enquiries than ever before. Even with the cut in FITs, our early figures seem to show that interest might not reduce to the degree some predicted.
Consumer demand still high
Here at Quotatis, in January so far we have seen that consumer demand is still high. This is despite the fact that it’s unlikely that those that enquire about solar now will get panels installed before the FIT cut on 15th January. When the Feed-in Tariff was first cut in 2011, there wasn’t a significant decrease in consumer interest in solar panels. It seems that companies can expect the same after these cuts. Interest in solar has been steady since 2011, and it looks to remain that way after the cut on the 15th.
Focus on bundles of energy saving measures
As fuel prices continue to rise, customers are looking to get a range of energy saving improvements that can work together, such as solar hot water, smart boiler management and biomass boilers. Their aim is to cut their energy bills rather than make a substantial return on investments through the FIT, unlike before the cuts in 2011. Stay in the market and extend your range of products, so you can offer consumers exactly what they want.
Take advantage of increased consumer awareness
Now that solar panels are appearing on countless rooftops, consumers are more aware of their value and how they can potentially add thousands to a property’s worth. As the cost of installation falls and makes them more affordable for homeowners, they are trying to find a long-term solution to cheaper energy.
In 2015, we found that there was a divide between the north and south, where more customers in the midlands and the south were searching for solar panels than in the north. Whether this trend continues could depend on whether the cost of solar panels continues to decrease.
Don’t feel threatened by the cut to the Feed-in Tariff. Remember:
- So far demand is still high
- Demand has been steady since the first FITs cuts in 2011
- Look to expand your services so you can offer customers a range of energy saving improvements
Stay in the market and take advantage of the customers that are looking to save money on their energy bills and offer them what they’re looking for.