A Bristol-based Rating expert is urging operators with rooftop PV installations to seek specialist advice before the end of 2016, following a recent warning from the Solar Trade Association (STA) of an anticipated six-fold leap in business rates on buildings with solar panels.
Rohan Short, Head of Rating at the Bristol office of CBRE, said: “While unwelcome, this projected increase should not come as a complete surprise given the number of changes in the industry since the last Rating Revaluation in April 2010.
“The cost of rooftop PV installations has dropped dramatically over the last few years and the tariff generation rates from the ‘Feed-in Tariff’ did not fall substantially until 1 January 2016. This date is significant as it was ten months after 1 April 2015, the point in time that the Valuation Office Agency will use to give a new rateable value to all properties for the 2017 Rating Revaluation.”
Rohan added: “However, this does not mean that the level of increase adopted by the Valuation Office Agency is correct. Moreover, it highlights the importance of operators working closely with their specialist rating advisors to ensure that all valuation factors affecting each individual installation are properly analysed and assessments are challenged where appropriate.”
New analysis from the STA shows that the UK has an estimated 12 gigawatts of solar panels, on offices, warehouses, solar farms, schools,homes and other buildings.
The 2017 Rating Revaluation is due on 1 April 2017 in England and Wales, marking seven years since business rates were last assessed.
