03.09.2010

German solar specialist launches a UK subsidiary after CREG announced this week a £50m fund to help businesses take advantage of the feed-in tariffs (FIT) programme.

The launch of the UK’s renewable energy feed-in tariff went further this week after German solar specialist Centrosolar launched a UK subsidiary and obtained product UK certification for its solar panels. Centrosolar is looking to tap into increased demand across both the commercial and private sectors for photovoltaic systems in the UK following the introduction of attractive feed-in tariffs in April.

Centrosolar has emerged as one of Europe's leading solar panel providers, subsidiaries in eight other countries outside of its home territory. It specialised in providing integrated packages comprising crystalline high-performance modules and the components needed to operate the system, as well as lighter thin-film solar panels suitable for roofs with low load reserves. The company achieved certification under the UK's Microgeneration Certification Scheme (MCS) at the end of August, ensuring that its products are eligible for the feed-in tariff incentive.

Centrololar said it will sell through an existing network of sales partners covering the wholesale, installation and social housing sectors, which is to be further expanded. UK demand from businesses for small-scale renewable energy systems has already exceeded expectations with an analysis from renewable energy installation specialist Ownergy showing that over 6MW of capacity has been deployed by 55 businesses since the feed-in tariff was introduced.

CREG joins a host of firms launching financial schemes to help businesses take advantage of feed-in tariffs programme

The launch of a UK subsidiary from Centrosolar follows the announcement by Clean Renewable Energy Group (CREG) this week of a £50m fund to help businesses, councils and charities take advantage of the feed-in tariffs (FIT) programme. The fund will pay for the installation of solar panels on large buildings, particularly those in the public and not-for-profit sectors, eliminating the need for organisations to make any capital investment in solar energy, while still allowing them to benefit from reduced energy costs and lower carbon emissions.

CREG is one of a host of firms that have launched solar financing schemes in recent months, which offer to cover the upfront cost of solar panel installation in return for the company then keeping some or all of the revenue generated over 25 years through the feed-in tariff.

David Collett, CREG chief executive, said removing the need for substantial capital investments required to get renewable energy projects off the ground would accelerate adoption. He said that the fund was likely to be particularly attractive to public sector bodies that currently lack the budget to invest in renewable energy.

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