UK Solar Subsidies To Be Cut Again
The morally wrong solar subsidies are to be cut again in August which is good news, the bad news is just like the last time they tried to cut the solar subsidies, the Coalition government have managed to screw this cut up, as well.
This time the government missed the legal deadline to make the changes effective from July 1st:
The feed-in tariff for solar photovoltaic panels fitted to existing homes will be cut by about a quarter, from 21p per kWh to 16p, and the length of payments reduced from 25 to 20 years. However, the Department of Energy and Climate Change said financial returns would still be around 6% for homeowners, down from the 7-10% when the scheme launched in 2010, as panel costs have fallen.
The changes take effect on 1 August, one month later than planned, after the government missed a legal deadline for making the changes on 1 July. Future tariff rates will also be assessed every three months and automatically cut or held depending on the number of panels installed in the last quarter, the government said.
What remains to be seen is how long there is any sort of solar industry in Britain, this change in policy means that as more people install solar panels so the subsidy will be cut further, in effect the limitless pile of taxpayers money for the solar boondoggle has come to an end.
Posted on May 24, 2012, in Anthropogenic Global Warming, Climate Change, Green Jobs Lie, Green Lies, Green Taxation, Renewables and tagged Solar Subsidies Are Morally Wrong. Bookmark the permalink. 1 Comment.