THE renewable energy boom has boosted growth at a Teesside electrical installation firm.
AEL Systems, which installs electrical, fire safety and security products, has seen annual revenues rise to £1.5m since moving into the solar power market - a far cry from the £50,000 it first generated in 2004.
The firm believes that solar work could boost turnover by another 40% as more homeowners and businesses invest in energy-saving devices.
The Government wants to boost take-up of solar energy systems in a bid to improve Britain’s carbon footprint.
But homeowners and firms have been deterred by large up-front costs and the lengthy timeframe for generating a return on the investment.
A typical solar water heating system costs around £4,800, while £12,000 would buy a standard solar electricity system.
AEL said the investment would be worthwhile in the long run.
Director Lee Willis, who has been with the firm since 2004, said: “If you invested £15,000 in a solar system, the return you will get is about £55,000 over 20 years.
“I’m confident of further growth in solar energy.