The Government has announced that the amount paid to households installing solar panels from next year will fall from 12.47p per kilowatt hour to 1.63p – a fall of 87 per cent.
The solar panel industry only grew because of government subsidies but in 2014 solar was a miniscule 1.29 per cent of total electricity consumption.
Critics of solar said subsidies were far too generous, enabling wealthy families to rake in cash at the expense of the many struggling to pay their energy bills.
This announcement will lead to an immediate collapse in the solar panel market, so what will happens to customers’ 20-year warranties? They will be worthless as companies, with no new business coming in, opt for liquidation, leaving customers with expensive repair bills.