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The Low Carbon Economy Ltd

23 Feb 2011 11:02:08

Solar firm launches campaign against FiT review

Solar firm launches campaign against FiT review
A new campaign has been launched to encourage the government to rethink its planned review of the Feed-in Tariff (FiT) scheme because of the effect it will have on the solar industry.

Power to Society has been launched by Low Carbon Solar and provides a facility for Brits to contact their local MP to lodge their objections to the plans.

The review of the FiT was not scheduled to take place until 2012 and the government claims it brought the study forward over concerns large-scale solar farms could be benefitting from cash intended for homeowners.

However, the industry disputes the government's claims that any installation capable of generating 50kW or over, including those mounted on rooftops or buildings, are large-scale and claims the review could damage investor confidence.

The Matrix Group has already suspended its Clean Energy VCTs [Venture Capital Trusts], saying the uncertainty which surrounds the FiTs present a "material risk to investors".

Mark Shorrock, chief executive of Low Carbon Solar, told the Farmers Guardian: "Without the tariff, the economics of solar energy are almost dead. Typically 75 percent of the money comes from banks but they won't lend now the tariff is at risk, making it impossible to put money into the rural economy right now." ADNFCR-1235-ID-800422453-ADNFCR

Discussion Thread  

25 Feb 2011

FiT should only be applicable to domestic or commercial/industrial companies. The word "investors" should not enter the conversation, the idea not being for profit but for those who use energy in their homes or business to derive some benefit for the investment they make in technology.
This country is awash with printed money looking for a "fast buck" - such funds should not receive any benefit at all.

Reg Clifton, C.Eng., CQP

A D wrote:

26 Feb 2011

There is something fundamentally wrong with the FIT scheme since it doesn't provide any incentive to save energy. One can generate solar energy and subsequently waster it with heating an outdoor swimming pool and still reap the rewardeds, that is paid for by conventional energy users.

Discussion Thread  


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