PricewaterhouseCoopers Says Solar PV Market to Increase Five Fold

According to a recent study that was done by the accountancy firm PricewaterhouseCoopers found that the feed in tariffs from the government are behind the predicted growth in the Solar PV market. Thus, this means that, since energy companies will be paying homeowners for the energy that they make, more people are likely to invest in renewable energy sources such as Solar PV.

In fact, analysts went on to say that solar PV could grow five fold over the course of the year. The sustainability and climate change director for PricewaterhouseCoopers, Gus Schellekens, said that the focus on Solar PV is timely with recently published road map documents outlining the future of global potential for Solar PV technologies.

Mr Schellekens went on to say that, while its use in the UK is still very small, Solar PV has a promising future if supported by strong government policies that sustain early deployments and support the technology’s transition to cost competitiveness. This is the technology that uses cells to capture and convert sunlight into electricity.

Although this kind of technology has been around for awhile, Solar PV is a bit different. Contrary to earlier solar systems, Solar PV cells can be of great use in the UK because they will even work on a cloudy day. This means that homes do not have to lose out on a day of producing energy just because the sun is not out in full force. This is helpful in the UK since, sometimes, very sunny days can feel far and few between. This technology makes it possible for solar systems to be more practical in the UK.