UK Solar farms to lose out on Goverment finanical support
As of next April the Government is cutting its financial support for solar farms under a consultation document published on Tuesday by the Department of Energy and Climate Change.
The proposals which are anticipated to take effect as of next April mean that installations of photovoltaic equipment amassing 5MW or above will no longer be eligible to collect payments though the Renewables Obligation. Beyond April it has been suggested that farms would however receive support under the contracts for difference scheme, which was in fact brought in under the electricity market reforms for large scale, low carbon power. Although this would still mean that they would have to compete with other renewable energy sources such as onshore wind farms. Of course this is not the news the large scale solar industry has been wanting to hear as they fear change will effect investment and add to the complexity of setting up solar farms.
The UK solar power industry currently produces around 2.7GW of generation which the government claim would still be keeping the UK on the right line to produce 12GW by 2020.
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