Solar panel testing company is placed in administration

Property and asset consultants at Lambert Smith Hampton (LSH) have been instructed to carry out a sale of the assets of IPSol Energy, a Nottingham-based solar panel testing company, following the appointment of Simon Bonney and Andrew Hosking of Quantuma LLP as administrators at the beginning of September.

IPSol Energy has been operating since May 2009 and are the UK’s only UKAS accredited solar panel testing company. The company provides business and technical solutions to the Solar PV market with a focus on the provision of testing and certification. Whilst the Company has become well established having made significant investment in new equipment, it has suffered along with the renewable energy industry in general with the reduction in subsidies, resulting in cash flow problems. Ultimately this has forced the Company to cease trading.

LSH has now been instructed to sell the assets of IPSol which includes 2 ACS solar panel environmental testing chambers (2011), a Pasan solar panel UV test unit and a solid state solar simulator along with the Company’s other test equipment.

James Hanson, Senior Valuer at Lambert Smith Hampton, said: “Whilst it is unfortunate to see a company go into the administration process, this sale is perhaps indicative of a wider difficulty in the alternative energy sector, which has experienced a degree of consolidation over the last year or so.

“However, there is still interest in renewable energy resources and an appetite for good equipment from firms which have established good traction in the market and have capital available to spend. As a firm we are very confident of being able to secure a good result at auction on behalf of our client.”

The disposal will comprise all the assets owned by IPSol Energy, including:

• 2 ACS solar panel environmental testing chambers (2011)

• Pasan High Light 3 solar panel spectrum simulator (2015)

• Haag Engineering Co IBL-7M solar panel hail tester

• Solar panel UV test unit

• Solid state solar simulator

• Fluke multimeters and 1555 insulation tester

• Office furniture, IT equipment.