Feed-In Tariff Cut Delayed
The next round of FIT cuts were due to be imposed on July 1st of this year, reducing the current domestic rate (up to 4kWp) of 21p to as low as 13.2p, however the Government have now missed a legal deadline for notifying Parliament 40 days prior to introducing the cuts.
This has led speculation throughout the industry about the length of the deferment. Solar industry leader Howard Johns has made an impassioned appeal to Energy Ministers to push back the next scheduled cut in the rate of Feed-in Tariff support from July to October.
The spokesman for the Cut Don’t Kill campaign said the industry needed more time to recover from the shock of unlawful reductions and a dent in consumer confidence. However, the Solar Trade Association (STA) has today written to its members advising them to prepare for the next round of cuts to the feed-in tariff in the first week of August, as many installers were confused by the government’s failure to clarify its plans.
This confusion is yet another blow to an industry which has at best stagnated since the last FIT cut and the subsequent legal wrangle, and which has led to a significant reduction in installations and a loss in consumer confidence.
As it stands, solar PV still represents an excellent long term investment and this opportunity will remain open until at least August 1st of this year. For more information you can speak to one of our solar PV experts on 0800 949 9003.
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