Renewable energy firm, Stiebel Eltron UK, has reported strong trading results for the first nine months of 2011, with turnover up by 41 percent on last year.

The firm reported that turnover had increased by 100 percent for October against the same period in 2010. A strong year of sales and expansion into new sectors are being attributed as the main cause behind the growth.

Stiebel Eltron UK Managing Director Mark McManus said: “These latest set of results show once again the success we are having in an increasingly tough economic climate.”

McManus, who is a Founder Member of the Green Power Forum national training and networking body added that the renewable energy sector is still presenting some challenges.

“The Government announcement on the feed-in tariff rate being slashed in December has created increased pressure on installers, who are trying to meet demand from consumers wanting quality solar photovoltaic (PV)in time to secure the highest subsidy.

“There is of course concern that many people considering solar PV may no longer find it a worthwhile investment as current rates could be slashed by 50 percent for any installations completed after December 12.

“However, solar PV can still play a big part in eco developments where it used in partnership with other microgeneration systems such as solar thermal and heat pumps. We will be discussing these issues in depth at the next Green Power Forum in Salford University in January. We understand that there is a lot of concern within the industry, but there are also still plenty of opportunities,” he concluded.