The report will provide further details of the proposed project to install photovoltaic panels on Council building to save energy and benefit from the Governments recently introduced Feed in Tariff scheme.

A report by the Director of Law, HR and Asset Management informed Members that on 1 March 2011 the Council had approved investing £2.8 million in a Photovoltaic (PV) Installation Project provided that

“…the proposed investment will yield savings in energy costs in excess of the capital financing costs…”

It was noted that the project would utilise the Feed in Tariff (FiT) scheme introduced by the Government in 2010 to provide a financial incentive to Consumers to install renewable technologies that would generate electricity over a maximum of 25 years.

The Director provided details of the anticipated benefits that could be obtained from the implementation of this project. The Government was to review FiT scheme funding in 2012 and there were benefits from reduced energy costs but, based upon the latest information, the capital financing costs for the project could be matched by savings. In future years, reductions in energy use would realise further energy savings and the index-linked subsidy (FiT payments) would increase.

RESOLVED  That:

(1)  the implementation of the Solar PV Project capital scheme be approved;

(2)  the construction phase of the project commencing in April 2012 be agreed; and

(3)  regular performance reports to be provided for the Cabinet’s consideration following the implementation of the scheme.