Solar Feed In Tariff Vote Defeated
Thursday 24 November 2011
The UK Government confirmed yesterday that there will be no extension to the FIT proposal deadline of 12th December and that Feed in Tariff cuts, from 43.3p per kWh to 21p per kWh for Solar Panels under 4kWp, will go ahead despite opposition from the UK Solar Power Industry.
Around 500 people under the banner ‘Cut Don’t Kill’ - a collection of Solar PV companies and green groups – protested on Westminster Bridge and lobbied in Parliament on Tuesday against the FIT proposal, which they argue will threaten jobs and productivity in the Solar PV industry.
However, Wednesday’s commons debate regarding the proposed cuts to the Feed in Tariff for solar power resulted in a defeat for the Solar PV Industry by 292 to 220, a majority of 72.
The impact of the Feed in Tariff cuts will leave some Solar Panel installers fighting to complete Solar Panel installations before the 12th December deadline and having to adapt business strategies to take into account the new Feed in Tariff rates.
Yet, despite this, EnergyLink believe that the new Feed in Tariff rate for Solar Panels still represents a highly profitable investment opportunity, with each system under 4kWp still giving an estimated Return on Investment between 4.5% and 7.6%.
To find out how much you can expect to earn and save by installing solar PV panels, try our online Feed in Tariff Calculator.