News about Ploughcroft & Solar Investing

11th December 2011 - Ploughcroft Director Steve Feather to parachute jump for Cancer Research UK

Ploughcrofts staff are all supporting Steve with generous donations.

Brave Ploughcroft Director Steve Feather is jumping for Cancer Research UK on Sunday 11th December. The dive will take place in Yorkshire's Bridlington and is expected to be from 3,500ft. Ploughcrofts staff are all supporting Steve with generous donations. Steve Feather had the following to say, "I can't wait to jump, i always wanted to do it but never found the incentive to take it further than a mere thought. When it was put to me to do it for charity I jumped at the chance". All the staff wish Steve the best of luck and hope to see him at 6am as always on Monday Morning.

1st December 2011 - Successful meeting gains the power of a dragon

"A hugely positive meeting of minds to promote a great product to benefit the masses" - says Marketing Manager Babak Daemi

10th November 2011 - Chris Hopkins wins Business Person of the Year at the Halifax Courier Awards 2011

"This award is a testament to all the hard work Chris has put into Ploughcroft over the last 14 years. "

Ploughcroft MD Chris Hopkins won Business Person of the Year 2011 at the Halifax Courier Business Awards last night. This award is a testament to all the hard work Chris has put into Ploughcroft over the last 14 years. Having built the company from a local roofing contractor in 1997 to a national renewable energy installer in 2011 Chris Hopkins, who is also a board member of the newly formed Green Construction Board for the Department of Business, has made some huge changes seeing business opportunities early and seizing on them.

The award was sponsored by 'Yorkshire's Legal People' Chadwick Lawrence and was awarded to Chris for showing clear Leadership qualities, a clear financial understanding of running a business, a willing to mentor colleagues and other business people, for clearly being a visionary in his field, and for promoting Calderdale in the most positive light.

31 October 2011 - Press Release by Solar Industry Leader Chris Hopkins

Solar Feed in Tariff cuts are not doom and gloom

With the Department of Energy and Climate Change (DECC) confirming that it is planning to slash solar incentives and cut the Feed-In-Tariffs (FIT) to homeowners from 43p per kWh to just 21p per kWh, the general outlook is grim within the solar industry.

However, Chris Hopkins, managing director of Ploughcroft - the UK’s leading solar installer – is urging people not to panic and to look at the bigger picture, which is vital for creating a sustainable solar economy.

Chris states: “The rate of the proposed FIT cut did come as a shock. We always knew the rate would be reduced as the solar industry boomed, but we did not expect it to be halved. All of the current news seems to be destructive, and this will only destroy consumer’s confidence in the solar market. We need to look at the positives that come from this announcement – and there are many.

“With production and manufacturing costs coming down in price over the last 12 months, and a typical installation now only taking one day instead of two, then it stands to reason that the 41p FIT rate was unsustainable for the long-term. Although a cut to 21p per kWh is a big drop, look back to April 2010 when the FIT was first announced. If technology and installation costs have halved, then it stands to reason that the government would half the tariff.”

Rather than focusing purely on the impact of financial rewards, the eco issues of the solar economy should also be considered. Today’s announcement means:

The installation cost should drop dramatically – making solar more accessible to the homeowner
The FIT will still offer a return on investment of between 8 and 9%, which is four times greater than the rates offered by leading banks
Unethical firms will be forced to close as those with the only goal in making money will fail
Manufacturers will be forced to cut their high margins

Chris added: “Production and manufacturing prices have dropped massively over the last 12 months. Solar panels are becoming more efficient, which means the average domestic roof installation only takes one day now, when it used to take two. This is making the market much more competitive – and attractive.

“Companies that have entered the solar industry purely to join in the solar gold rush which use unethical sales practice and are unethical and unsustainable. The current FIT makes it too good to be true for them, and the proposed lower FIT rate will mean they cease to exist. Long-term, this is good for the industry as we need companies who are committed to the renewable cause.”

Ploughcroft is the leading renewable energy installer across the UK, and has the UK’s leading renewable energy training facility. This means that Chris remains fully aware of who his competition is, and how they are doing. Ploughcroft will turn anyone who does not have the basic competencies to undergo installation training away.

Chris sums up the new FIT rate in one simple sentence: “I believe that the new FIT will be good for the sustainability of the solar sector.”

6th August 2011 - Article featured in the Brighouse Echo (Web)

Chris tames a den of dragons

A BRIGHOUSE businessman has walked away from TV's Dragons Den with an investment of £120,000. Chris Hopkins, managing director of Ploughcroft survived a battle of wits against the Dragons on Sunday night.

During the gruelling pitch for the BBC2 programme, Chris was asked on all aspects of his business model and what he wanted to put the Dragons hard earned cash towards.

Chris proved to be one of the most successful candidates to date with four Dragons wanting to be involved in his business.

But he selected Deborah Meaden and Theo Paphitis - who together take a 25 per cent stake in Ploughcroft in exchange for their funding. “Apart from their excellent reputation in the world of business, Deborah and Theo are trusted household names. This was very important to me, as I want Ploughcroft to become the household name of choice for solar and renewable energy installations.”

Ploughcroft is having its most successful year, with year-to-year sales for 2011 already up 100 per cent, and bookings for training courses increasing.

In the next few months he intends to open two more renewable energy training. Chris is excited at the prospect of working with Deborah and Theo to drive his business forward and expand across the UK.

“It is fantastic to have had the opportunity to meet such successful entrepreneurs,” he said.

4th August 2011 - Articled featured in the Yorkshire Post

Dragons' Den pair provide boost for solar firm that hopes to double sales

YORKSHIRE solar company Ploughcroft is on course to double sales this year after demand for its technology and training courses soared.

The firm, which sold a 25 per cent to Dragons’ Den stars Deborah Meaden and Theo Paphitis in an episode shown on Sunday, added 10 staff this year, taking it to 37.

Turnover is expected to reach £5m for the 12 months to September, up from £2.6m for the same period last year. Chris Hopkins, the managing director, said: “Apart from their excellent reputation in the world of business, Deborah and Theo are trusted household names. This was very important to me, as I want Ploughcroft to grow to become the household name of choice for solar and renewable energy installations.” Ploughcroft was set up in 1997 by Mr Hopkins and his father, Bill, as a traditional domestic building and roofing business.

When the older man retired six years ago, his son bought him out and opened an eco-roof centre in Brighouse, where schools, colleges and environmentalists could see demonstrations of solar panels. The firm’s NVQ is used in 11 construction colleges in the UK and has been accredited by City and Guilds, the awarding body.

Under the feed-in tariff, which came in on April 1 and is known as clean energy cashback, the owners of properties can receive up to £1,000 a year for small-scale, environmentally-friendly power generation. If they understand the technology and can successfully harness the electrical power that the panels produce, then the return on the investment could be as much as 10 per cent, said Mr Hopkins – far greater than the low rates of interest on offer from high street banks.

Generating green power domestically has soared up the political agenda since David Cameron, then leader of the Opposition, had a wind turbine installed on the roof of his London home. The cultural shift which began under Labour has continued since the coalition Government was formed and Mr Hopkins said this had been reflected in their sales.

Mr Hopkins left Dragons Den with a £120,000 investment in return for a 25 per cent stake in Ploughcroft.

18th November 2010 - Article by Peter Edwards featured in the Yorkshire Post

Solar company offers powerful argument for green monitoring system

A YORKSHIRE solar roofing firm has launched a green energy-monitoring system to spot power supply problems before the lights go out. Ploughcroft Solar joined forces with German company Solar-Log, which monitors photo-voltaic (PV) panels 24 hours a day, to devise the system. It means that if a cable is ruptured, the system gets damaged or panels are stolen, the owner of the equipment will be informed immediately and Ploughcroft will repair it.The Brighouse firm installs photo-voltaic systems and works with Vaillant, Plumb Center, which is part of building supplies giant Wolseley, and nPower. Photo-voltaic systems cost in the region of £15,000 and homeowners expect a £1,600 return on their investment from the feed-in-tariff.Under the tariff, which came in on April 1 and is known as clean energy cashback, the owners of properties can receive up to £1,000 a year for small-scale, environmentally-friendly power generation.Chris Hopkins, managing director of Ploughcroft Solar said: "The UK is the world's fastest growing market for solar PV technology. With so many Brits having invested in solar installations and expecting to benefit from the feed-in-tariff, it is vital that their investment is protected."The Solar-Log tracking device can be installed on any existing solar PV system and it can also be included as part of a new solar PV installation. All you need is for the tracking device to be installed and broadband in order to monitor your investment."The service also provides users with a daily yield and error report on email, so they can see if there has been a drop in production. Parent company Ploughcroft Building Services has an ambitious target of increasing its £2m turnover fivefold within two years.Ploughcroft was set up in 1997 by Mr Hopkins and his father, Bill, as a traditional domestic building and roofing business. When the older man retired. six years ago, his son bought him out and opened an eco-roof centre in Brighouse, where schools, colleges and environmentalists could see demonstrations of solar panels.

6th February 2010 - Article by Miles Brignall featured in the Guardian:

... you'd snap it up in a second

If the government offered to pay you £1000 a year for the next 25 years, in return for an upfront payment of around £12,500, you'd snap it up in a second. Well, that's pretty much the deal on offer after the government finally revealed what it will pay to those who install electricity generating solar panels through the new 'Feed-in-Tariffs' (FITs). After years of campaigning by environmental groups, the government has finally agreed to reward householders and businesses installing electricity-generating measures with a 7-10% tax free return. Future payments are guaranteed for the next 25 years and have been unexpectedly linked to inflation - generating enough of a return to make it a serious financial, as well as environmental, investment!

On 1st February 2010 - The Government confirmed the feed in tariffs which will come into force on 1st April 2010.
For someone fitting a typical 2.5kW photovoltaic solar system to an existing home (at a cost of around £12,500), a payment of 41.3p per KWh generated will be paid whether that electricity is exported or used by the home owner. A further payment of 3p per kWh will be made for each unit not used and therefore exported to the grid. New-build properties fitted with solar panels will receive a lower tariff of 36.1p per kWh generated.

These tariff payments are guaranteed for 25 years and they are also index linked - i.e. they will rise in line with inflation. The typical 2.5kW system will generate tax-free payments of around £1000 per year, and so the payback on the investment will be around 12 years. This also works out as a tax-free return on investement of 8% - far better than any bank account offers, and particularly attractive to those paying tax at the higher rate. Since the electricity generated can be used by the homeowners, they are also rewarded with a £150 reduction in their electricity bill with a 2.5kW system.

Therefore, if you are lucky enough to have £10-12,500 in the bank AND have a south (or nearly south) facing roof, you'll struggle to find a better financial investment than installing a PV solar array on your home.

Other highlights included 17.8 to 19.9p per kWh for 20 years for hydro, 26.7 to 34.5p per kWh for 20 years for small wind turbine generators, and confirmation that existing microgenerators being transferred from the RO programme will receive 9p per kWh generated until 2027.