Installation has begun on the a historic "former Freemans" building in the city, which will involve 1,500 solar panels worth 55 kilowatts (kW).
At a cost of £350,000, it is crucial that the project be finished by the end of July and therefore qualify for the FIT scheme which will soon end. Installations of this size, completed after the July date, will see a reduction of FITs in the realm of 70 percent.
The installation is part of a bigger project which will see photovoltaic modules installed to the Town Hall and Regional Pool facility. The full project will cost £5.7 million and the council will draw on borrowed funds. Once FITs are received the project is projected to generate an annual £300,000 profit, after the set-up cost is repaid.
The solar installations to the Regional Pool and Town Hall are expected to be finished by September and October of this year respectively.
Councilor Samantha Dalton referred to the reduction in FITs received, in a statement announcing that work had begun, "the government has recently changed the scheme, which reduces the amount of money it will pay organisations for generating income through selling energy unless the panels are installed by the end of July."
pv magazine has made enquiries as to how the FIT changes impact the financials underpinning the project.
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