Breaking news! Financial support for Solar PV projects over 5MW to be potentially cut from 2015?
13 May 2014 | CustomSolar
DECC have opened a consultation to discuss how they can cost effectively manage the deployment of large and medium scale Solar PV under the Renewables Obligation (RO) and Feed in Tariff (FITs) scheme. Here at Custom Solar we are very eager to see how this will directly affect the Solar PV market. If DECC were to increase the midscale (250kw-500kw) tariff that would be a great incentive for our target customers.
In summary the consultation proposes:
- Closing the RO in Great Britain to solar PV capacity greater than 5MW from 1 April 2015; the RO would remain open to projects at 5MW and below
- Grace periods for developers who have made significant financial commitments to projects on or before 13 May 2014 allowing them to enter the RO after 1 April 2015
- Splitting the stand-alone and greater than 50kw Fits degression band into two new bands to encourage more deployment of building mounted solar PV
The consultation closes on 07 July 2014.
Please see the link to DECC’s consultation document below: