{"id":1743,"date":"2012-11-14T09:22:08","date_gmt":"2012-11-14T09:22:08","guid":{"rendered":"http:\/\/www.housingenergyadvisor.com\/blog\/?p=1743"},"modified":"2015-03-09T11:23:26","modified_gmt":"2015-03-09T11:23:26","slug":"future-still-bright-for-renewable-energy-123","status":"publish","type":"post","link":"https:\/\/www.housingenergyadvisor.com\/blog\/future-still-bright-for-renewable-energy-123\/","title":{"rendered":"Future Still Bright for Renewable Energy"},"content":{"rendered":"

The renewable energy market is currently facing some difficulties. Many larger companies in the sector have closed renewable parts of their business and with uncertainty surrounding subsidies investors remain nervous about investing in the renewable market.<\/p>\n

Last December BP closed their solar panel ventures after claiming \u2018they couldn\u2019t make any money from it.\u2019 Then last month German Industrial Group Siemans pulled out of their solar panel business to concentrate on wind and hydroelectric power. It is not just solar that has taken a hit with European wind energy companies announcing job cuts due to poor trading figures.<\/p>\n

Reasons for Difficulties<\/h2>\n

One of the reasons for closures, such as BP and Siemens, is competition. In a sector that has seen a downturn only the lowest-cost producers are surviving. The competition, particularly from Asian companies, is very fierce so it is not that surprising to see some big names exit the market. Many smaller companies have also filed for bankruptcy.<\/p>\n

Another reason for the challenging times is policy change regarding renewable energy. Cuts to grants and subsidies, such as the Feed in Tariff<\/a>, will deter customers from investing in renewable energy. Renewable energy still represents quite a large investment for most households so cuts in grants and subsidies that boost the market have had an effect. The changes in policy also create uncertainty for investors meaning they are less willing to put money into the market.<\/p>\n

Renewable Energy \u2013 The Future<\/h2>\n

Despite testing times for renewable energy, to paraphrase Orange, the future is still very bright. The Government is still committed to making renewable energy a large part of our future. This would still probably be true if another Government was elected and there is a similar story across Europe. Perhaps more importantly than Government and Manufacturers is renewable energy is still important to the most important people \u2013 the public and the consumer.<\/p>\n

Renewable energy is important to people because they want to protect the environment with a more sustainable form of energy. They also know that in these frugal financial times microgeneration offers cheap electricity that will last in the long-term. Morally and ever-increasingly financially, renewable energy makes more sense. There is no doubt, on all counts, renewable energy is the future.<\/p>\n

Green Deal to Boost Renewable Energy<\/h2>\n

Though the exact details as to how the Green Deal Scheme will work<\/a> are still unclear there is a good chance that the scheme will cater for microgeneration technology. The Green Deal currently allows consumers to take a loan for home improvement such as insulation with repayment and interest payments only being made from expected savings. So for example if you save \u00a320 a month on your heating bill, you repay less than \u00a320 a month. Unlike conventional loans the loan will be against the property and will be passed on should you move out.<\/p>\n