On the 9th June 2011 the Government published its response to “consultation” on the Government backed Feed in Tariff (FITS) scheme.
The amendments to the Electricity Supply Licences effectively mean that the existing FITS payment received on new Solar PV Installations will be vastly reduced for all schemes greater than 50kw. The new rates are applicable to all schemes completed after 31st March 2012.
This amendment will almost certainly kill off the viability of large scale Solar PV Installations, which are currently being planned by those smart investors and developers wishing to assist the Government in it`s requirement to reduce the use of fossil fuels, and subsequently meet it`s commitment to reducing harmful ozone depleting gases (CO2).
If you would like to know more about the impact of the FITS reductions or have a Solar PV scheme query, please get in touch.
Meet the author: Click here to meet Stephen Taylor