The influential Consumer Protection Association has seen a significant rise in the number of renewable energy/solar guarantees it is issuing, for sustainable projects.
The CPA is regulated by the Financial Conduct Authority (FCA) and provide insurance backed guarantees (IBGs) and deposit protection to renewable installers carrying out home improvements.
Jeremy Brett, who is Director at the organisation, says the company recorded a 20 per cent increase in the number of projects it supported in 2014, compared to 2013.
Renewable energy companies
He also says the company has seen a rise in the number of renewable energy companies becoming CPA members.
He comments: “The increase in the number of renewable projects we are providing deposit protection and IBGs for indicates that consumer confidence around green solutions is growing.
“What’s more it shows that the renewable energy companies that survived the great FIT rate crash a couple of years ago are on a sound footing and retailers are experiencing steady growth. The industry is also seeing more diversification, with air source heat pumps and innovations within solar PV taking market share.”
Jeremy also says that communicating the benefits of renewable energy products, during the difficult times, has been vital for leaders in this sector.
He comments: “Following the drastic cut in the Feed-in-Tariff, the cost of actual systems has dropped by 70 per cent, ensuring property owners will get a fantastic return on investment. It has been vital to communicate this, as solar is still a viable investment. Add in the fact that energy companies are hiking their prices up and the drive to improve the UK’s housing stock; and you have something of a perfect storm.”
Jeremy says that an average home can expect to get a ten per cent rate of return, based on the current 13.88p/kWh tariff for systems 4kW in size and smaller.
The CPA is recognised by consumers as one of the most trusted resources for finding accredited and vetted renewable energy installers.
The CPA also offer its members a host of beneficial schemes such as marketing support; sales training help; and quarterly assessment reports that tell members what their customers think about the work they are doing.
The CPA is also known to fight the corner of its members and in March will meet with Nadine Dorries MP to discuss issues affecting the renewable energy industry.