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Changes to solar subsidies

Changes to solar subsidies

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The Department for Energy and Climate Change (“DECC”) has announced a series of measures aimed at restricting the subsidies it pays to support renewable energy.

The measures include:

Removing the guaranteed level of subsidy for biomass conversions and co-firing projects for the duration of the Renewable Obligation, known as grandfathering.
Launching a consultation on controlling subsidies for solar PV of 5MW and below under the Renewables Obligation (RO). This includes consulting on early closure and removing the guaranteed level of subsidy for the duration of the RO, known as grandfathering.
A consultation on changes to the preliminary accreditation rules under the Feed-in Tariff (FIT) scheme followed by a wider review of the scheme to drive significant further savings.

Both Foresight Solar and Bluefield Solar Income have announced that they don’t think there will be any financial impact from DECC’s decision on their existing investments or their current pipeline.

UPDATE 24/7/15

NextEnergy Solar has announced that it doesn’t see any impact on its existing investments or its pipeline and sees ” a material pipeline of opportunities for growth up to 2020″.

FSFL / BSIF / NESF : Changes to solar subsidies

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