Romag welcomes UK feed-in tariff for PV
01 Février 2010 - 2:13PM
UK Regulatory
TIDMROM
RNS Number : 4593G
Romag Holdings PLC
01 February 2010
ROMAG HOLDINGS PLC
Romag welcomes UK Government announcement of feed-in tariff for photovoltaic
installations
The Board of Romag Holdings plc, a specialist manufacturer of glass and plastic
composites for renewable energy, security, transport and architectural
applications, welcomes todays news from the Department of Energy and Climate
Change (DECC) confirming that a feed-in tariff for solar installations up to 5
MW will be introduced from 1st April this year with a minimum lifetime of 25
years.
The feed-in tariff, which will be known as the 'clean energy cash-back scheme,
rewards households and businesses with a payment for every kWh of electricity
generated by a photovoltaic installation. The incentive for solar is banded
dependent on the size of the system, whether it is retro-fit or new build and if
it is building integrated or standalone. In addition to the tariff for
generation, where electricity is exported back to the Grid users will receive a
further payment of 3p/kWh.
Commenting on the announcement, Lyn Miles, CEO of Romag Holdings Plc said:
"We are delighted by todays feed-in tariff confirmation, which provides a real
boost for the UK solar energy market, bringing it into line with mainland
Europe, and comes at a particularly exciting time for Romag.
"Our new product developments over the last year coupled with our agreements
with Kingspan and British Gas position us well and we are very excited about the
future of UK Solar PV and the role Romag will play in this. The fact that the
FIT provides incentives for installations up to 5 MW means that everyone from
home owners to business owners will be incentivised and Romag are well placed to
supply a range of products into all these markets."
The feed-in tariff for photovoltaics is banded as follows and has a lifetime of
25 years beginning 1st April 2010:
+-------------------+------------+------------+------------+
| Tariff levels
for electricity financial incentives (p)
|
+----------------------------------------------------------+
|
| Year 1 | Year 2 | Year 3
|
+-------------------+------------+------------+------------+
| =4 kW (new
| 36.1 | 36.1 | 33.0 |
| build) |
| |
|
+-------------------+------------+------------+------------+
| =4 kW
(retrofit) | 41.3 | 41.3 | 37.8
|
+-------------------+------------+------------+------------+
| >4-10kW
| 36.1 | 36.1 | 33.0
|
+-------------------+------------+------------+------------+
| >10 -
100kW | 31.4 | 31.4 | 28.7
|
+-------------------+------------+------------+------------+
| >100kW -
5MW | 29.3 | 29.3 | 26.8
|
+-------------------+------------+------------+------------+
| Standalone
| 29.3 | 29.3 | 26.8 |
| system |
| |
|
+-------------------+------------+------------+------------+
In the last year Romag has taken a number of steps in its solar photovoltaic
business, PowerGlaz, to take advantage of a more favourable UK market. The
company has developed new products, including a car parking canopy (PowerPark)
to provide green electricity for recharging electric vehicles and has entered
into separate agreements with British Gas and Kingspan for the supply of certain
PowerGlaz products throughout the UK.
Romag will itself be taking advantage of the new feed-in-tariff and is currently
constructing a PV installation at the factory in County Durham, which the
company believes will be the largest PV installation in the UK when it is
completed. As well as providing a good return on investment, it will be an
excellent "demonstration site" for what can be achieved with PV under the
feed-in-tariff regime and complement the PV training centre which is also in
course of construction on the site.
Enquiries:
Kreab Gavin Anderson: Tel: +44 20
7074 1800
Ken Cronin / Michael Turner / Natalie Biasin
Arbuthnot Securities Limited: Tel: +44 20
7012 2000
Antonio Bossi / Tom Griffiths
Note to editors:
Romag Holdings plc is a leading manufacturer of glass and plastic composites
based in Consett, County Durham. Romag has developed a range of photovoltaic
glass products (PowerGlaz) for use in the generation of renewable energy.
Romag also manufactures a wide range of products for the security, transport and
architecture markets to protect people against a variety of risks and threats.
Businesses using the groups high-impact glass products include BAA, Securicor,
government departments, banks, building societies and train operators.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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