Downing Street Says » Feed-in tarrifs

» Monday, October 31, 2011

Feed-in tarrifs

Asked for a response to the allegation that the reduction of feed-in tariffs was a binning of the Government’s green strategy, the PMS reiterated Energy Minster Greg Barker’s words from earlier in the day, saying that the priority was to put the solar industry on a firm footing, so that it could remain a successful and prosperous part of the green economy and not fall victim to boom and bust. The PMS added that the plummeting costs of solar meant that we had no option but to act so that we stayed within budget and did not threaten the whole viability of the feed-in tariffs scheme. The PMS said that the Government recognised it would be a big challenge to adjust to the new lower tariffs but it would not come as a surprise to many in the solar industry who have acknowledged the big fall in costs and the big increase in their rates of return over the past year.

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