23 Feb 2011 11:02:08
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."