The Department of Energy and Climate Change (DECC) have published the results of its long anticipated consultation. From February 8 a feed-in tariff rate of 4.39p per kWh will come into play for domestic solar PV installations up to 10kW.
A new budget announced by the Government that will cap spending on the scheme to £100 million has been set, and in order to protect the new budget the DECC will enforce a break period of four-weeks on new feed-in tariff installations between 15 January to 8 February 2016.
The previous rate of 12.47 p/kWh will be reduced to the new rate of 4.39 p/kWh for any installation made between these dates. The new rates will run from 8 February to March 31.
The initial threat by the Government of a possible reduction to the feed-in tariff rate by up to 87% and then announcing cuts of 64% are just a way of convincing and appeasing the industry that they have done all they can to protect growth and support the renewable energy sector.
The Renewable Energy Guild believe the new slashed rates will damage our industry, cost jobs and greatly reduce all the good work and progress the industry has achieved. We will continue to educate the people in power that renewables are our future and the future of the next generation.