Monday, 5 December 2011

FIT update

Re the Government’s plan to reduce the Feed in Tariffs (FITs).
As proposed after December 12th, reduction in payments for PV systems are from 43p to 21p per kWh. The FIT scheme still delivers an excellent return in the region of 5% on investment.

The Government has stated it will consult with the industry before making a final decision. We look forward to have this opportunity to have our voice heard and draft our response by the deadline, December 23rd.
Due to the fall in installation costs it has been accepted that the tariff would need to be revised however it is clear there will still be an incentive for renewable technology.

We believe the foundation is now in place to make the renewable sector a sustainable and long term growth industry because of the issue of rising energy costs.

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