New analysis by UK solar energy company Engensa finds that the UK’s Feed-in Tariff (FiT) will create 10,000 green jobs by early 2012.

Creating jobs to install, service and sell the panels

First introduced in April 2010 to support domestic alternative energy production, the policy is expected to create nearly 50,000 additional jobs by 2015 if kept at current levels, according to Engensa’s research.

In addition, in the short term, the solar industry is generating more tax revenue for UK plc than is being paid out on the FiT: Engensa estimates up to £65m positive value in the period ending April 2012.

UK homeowners face an ever-growing rise in electricity bills, with today’s rates 62 per cent higher than six years ago. The current version of the FiT policy enables companies to offer free solar installations that can save around £200 per year on energy bills. Homeowners who choose to pay for solar panels for their homes can also make money from feeding excess energy back into the grid. The first year of the FiT yielded 70,000 installations in the UK alone – providing a massive boost to local economies by creating thousands of jobs to install, service and sell the panels.

“As the Department of Energy and Climate Change prepares for a FiT review, expected to take place this month, this new research provides evidence that supports the positive impact this policy has on the economy and employment sector,” said Toby Darbyshire, CEO Engensa.

“Threats to slash the Feed-in Tariff by more than 25 per cent would suffocate this blossoming industry and cost the UK government untold billions in unemployment insurance, increased fuel poverty subsidies and the consequences of an aging energy infrastructure.

“Supporting the FiT is a no-brainer for economic growth and a healthy future.”

The FiT enables homeowners to benefit from clean, affordable energy and the UK to compete globally in the renewables marketplace. The rapid growth of the solar industry is the answer to jobless figures in the UK, where key economic indicators show growth of 0.2 per cent of GDP in the second quarter of 2011 and record unemployment rising by 38,000 in the three months to June.

A complimentary market to solar, the construction industry, has been particularly hard hit, with a loss of 21,000 jobs in the 12 months to June 2011.