Wed, 30 May 2012 | ADMINISTRATION
A renewable energy installation firm has entered administration following trading problems due to the government's Feed-in Tariff changes.
The administration of Norton Energy Solutions, based in Coventry, is being handled by Cranfield Business Recovery. According to the administrators, the firm is due to be taken over by Zeus Business Services Ltd.
All planned installations will be carried out, but the joint administrator Tony Mitchell stated that they cannot guarantee there won't be a loss of jobs. "There may have been some redundancies made, but we're still trying to clarify the position," Mr Mitchell told Construction News.
A number of renewable energy installation firms have struggled to stay afloat after the government announced that the Feed-in Tariff would be cut. An initial reduction in the pay-out for individuals generating their own energy was introduced on 1 April, but further cuts have now been confirmed for 1 August this year.
These changes in the industry mean that Norton Energy Solutions is far from alone in its struggles to continue trading. Other renewable energy firms have faced similar problems as the government's changing viewpoint on the Feed-in Tariffs has left consumers uncertain about investing
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