UK PV changes still allow profit for some companies
A Midland-based green energy firm is bucking the economic trend as the number of property owners looking to generate green energy increases. Family-owned renewable energy specialists Solar Solutions has seen a successful 12 months with the firm's father and son partnership boosting turnover and bringing new jobs to the area.
After a £50,000 investment, the Malvern firm was launched in 2010 by businessman David McCann. Mr McCann, a former civil servant, established the business after spotting a gap in the renewable energy market and soon brought son Rowan on board. Over the past year the climate conscious company, who employ 16 people and operate as a social enterprise by ploughing 20 per cent of profits into community projects across the region, has gone on to double turnover and champion new renewable energy sources.
"Our first two years have been hard work but the steady performance of the business, especially in the first six months of this year, has been good to see in such a tough climate," said Mr McCann, managing director. "I am delighted we've been able to help boost the region's employment market by adding local expertise to our team. But aside from job opportunities we've also remained at the forefront by offering new technology to property owners which allows them to reduce their energy bills. The demand for renewable power is accelerating as installation costs have more than halved in 12 months, meaning thousands more are considering a switch to green energy. The potential 15 per cent return on investment on energy bills over a 20-year period is also a big selling-point for us."
News of the firm's performance follows a government announcement which said four million UK homes will be powered by the sun within eight years - representing 22,000 MW of installed solar power capacity by 2020. Mr McCann welcomed the news but says his firm is staying ahead of energy trends following a recent proposal to extend the Renewable Heat Incentive (RHI) to include domestic homes and not just commercial properties.
Talking about the firm's own involvement with the community, Mr McCann added: "When I set up Solar Solutions the aim was to be different. Of course we wanted to be commercially successful but too many businesses give nothing back. Therefore we made a commitment from day one that we'd give a percentage of our profits back through community projects. I am delighted we've met that pledge through schemes including tree planting and charitable donations "“ recently working with the Malvern Cube and Acorns Children's Hospice."
"We have another exciting 12 months ahead of us."
