Most Popular
1. It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- Gary_Tanashian
2.Stock Market Presidential Election Cycle Seasonal Trend Analysis - Nadeem_Walayat
3. Bitcoin S&P Pattern - Nadeem_Walayat
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
4.U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - Raymond_Matison
5. How to Profit from the Global Warming ClImate Change Mega Death Trend - Part1 - Nadeem_Walayat
7.Bitcoin Gravy Train Trend Forecast 2024 - - Nadeem_Walayat
8.The Bond Trade and Interest Rates - Nadeem_Walayat
9.It’s Easy to Scream Stocks Bubble! - Stephen_McBride
10.Fed’s Next Intertest Rate Move might not align with popular consensus - Richard_Mills
Last 7 days
Stocks, Bitcoin and Crypto Markets Breaking Bad on Donald Trump Pump - 21st Nov 24
Gold Price To Re-Test $2,700 - 21st Nov 24
Stock Market Sentiment Speaks: This Is My Strong Warning To You - 21st Nov 24
Financial Crisis 2025 - This is Going to Shock People! - 21st Nov 24
Dubai Deluge - AI Tech Stocks Earnings Correction Opportunities - 18th Nov 24
Why President Trump Has NO Real Power - Deep State Military Industrial Complex - 8th Nov 24
Social Grant Increases and Serge Belamant Amid South Africa's New Political Landscape - 8th Nov 24
Is Forex Worth It? - 8th Nov 24
Nvidia Numero Uno in Count Down to President Donald Pump Election Victory - 5th Nov 24
Trump or Harris - Who Wins US Presidential Election 2024 Forecast Prediction - 5th Nov 24
Stock Market Brief in Count Down to US Election Result 2024 - 3rd Nov 24
Gold Stocks’ Winter Rally 2024 - 3rd Nov 24
Why Countdown to U.S. Recession is Underway - 3rd Nov 24
Stock Market Trend Forecast to Jan 2025 - 2nd Nov 24
President Donald PUMP Forecast to Win US Presidential Election 2024 - 1st Nov 24
At These Levels, Buying Silver Is Like Getting It At $5 In 2003 - 28th Oct 24
Nvidia Numero Uno Selling Shovels in the AI Gold Rush - 28th Oct 24
The Future of Online Casinos - 28th Oct 24
Panic in the Air As Stock Market Correction Delivers Deep Opps in AI Tech Stocks - 27th Oct 24
Stocks, Bitcoin, Crypto's Counting Down to President Donald Pump! - 27th Oct 24
UK Budget 2024 - What to do Before 30th Oct - Pensions and ISA's - 27th Oct 24
7 Days of Crypto Opportunities Starts NOW - 27th Oct 24
The Power Law in Venture Capital: How Visionary Investors Like Yuri Milner Have Shaped the Future - 27th Oct 24
This Points To Significantly Higher Silver Prices - 27th Oct 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Fears Coalition Government Reforms May Destroy the UK Solar Industry

Politics / Renewable Energy Feb 17, 2012 - 03:00 AM GMT

By: OilPrice_Com

Politics

James Burgess writes: Young industries such as the renewable energy sectors rely heavily on government funding and incentives to help them achieve a level of competition with the well-established industries out there.


The incentives are only needed for a few years to give the young industry time to find its feet and develop the necessary technologies and scale of production to fully support itself. UK government ministers have recently angered the solar industry with proposals that will see incentives cut by 35 percent; significantly lower than other renewable energies and a level that some believe will send the sector into contraction. Howard Johns from the Solar Trade Association went as far as to Tweet that the government had announced "ambitious new plans for destroying the UK solar industry.”

The government have said that the incentive cuts will depend on the number of installations made between now and 3rd April. They have also stated further cuts planned for later in the year. "For solar PV we propose a tariff reduction in October (i.e. three months after the 1 July tariff changes) of 5 per cent, followed by a digression rate of 10 per cent every six months".

The government is hoping that this deadline for the incentives will cause a surge in solar installations as more people try to take advantage of the subsidies before they are cut. The government are not looking to damage the solar industry, they are merely looking at different ways in which to help it develop. The incentive cuts are a negative aspect of their new approach, but they are also going to supply new feed in tariffs amongst other reforms that they predict will encourage the UK solar capacity to increase from 1GW currently to 22GW by 2020.

Climate Minister Greg Baker has insisted that the government are looking at a number of options, but that the falling costs in the solar industry ensure that it can continue to flourish once any reforms come into effect.

The government also plan wide ranging reforms to feed in tariffs for other renewable technologies such as, small scale wind, hydro and combined heat and power.

Source: http://oilprice.com/Latest-Energy-Ne...

This article was written by James Burgess for Oilprice.com who offer detailed analysis on Crude Oil, Geopolitics, Gold and most other commodities. They also provide free political and economic intelligence to help investors gain a greater understanding of world events and the impact they have on certain regions and sectors. Visit: http://www.oilprice.com

© 2012 Copyright OilPrice.com- All Rights Reserved
Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in