FITs warning!

davehills

For those considering solar panels, be aware that the secretary of state has brought forward a review of FITs to 2011. Any changes made will take effect from April 2012.

They are also going to "fast track" review the FITs available for solar PV schemes.

Given the spending cut backs it's likely FITs will be scaled back or could be canceled altogether!

People will say "well, the government said FITs are guaranteed" but remember that this isn't written in law anywhere (AFAIK) and at the end of the day the government can do what they want!!

Obviously, if these cuts are applied across the board and to existing projects, those that have already invested in solar PV might see a loss on their investment!

You have been warned...

Cardew

I honestly can't see FITs for existing installations being stopped, particularly with the Lib Dems with their 'green' credentials having influence in the Government.

They could make some changes - tax income, remove index linking etc.

I think they are far more likely to curb the activities of the 'Rent a roof' companies who have jumped in to make a killing.

There are plenty of signs that Government might reduce(or hopefully stop) the crazy subsidies(i.e. FIT) for future systems.

However it should be borne in mind that FIT are not funded by the Government from taxes, but by all electricity customers who pay more for their electricity.

keith_r59

davehills wrote: »

For those considering solar panels, be aware that the secretary of state has brought forward a review of FITs to 2011. Any changes made will take effect from April 2012.

They are also going to "fast track" review the FITs available for solar PV schemes.

Given the spending cut backs it's likely FITs will be scaled back or could be canceled altogether!

People will say "well, the government said FITs are guaranteed" but remember that this isn't written in law anywhere (AFAIK) and at the end of the day the government can do what they want!!

Obviously, if these cuts are applied across the board and to existing projects, those that have already invested in solar PV might see a loss on their investment!

You have been warned...

As I understand it the review is only being brought forward for systems of more than 50kW capacity so it will have no impact on small household installations.

ManAtHome

Parts of Euroland hacked them last year http://solarfeedintariff.co.uk/tag/spain/

PeterZ_2

25 years is a long time, we have massive debts run up by 13 years of labours failed policies and now we face ever increasing energy costs due to the price of oil. Does anyone really think the fits will last for 25 years? While it will help get us off the oil hook, the problem is that we just cant afford it. Probably best that we sell ourselves into a lifetime of slavery and get the French to build some nukes over here.

PeterZ_2

Cardew wrote: »

I think they are far more likely to curb the activities of the 'Rent a roof' companies who have jumped in to make a killing.

So the FITs get scrapped, the rent a roof companies go bust and cant pay back the bank. The UK taxpayer comes along and bails out the bank. So yet again the taxpayer gets shafted. The only winner will be those with the panels on their roof.

keith_r59

PeterZ wrote: »

Does anyone really think the fits will last for 25 years?

Well the companies who have invested millions of pounds in the "rent-a-roof" schemes think they will as that is the whole rationale behind their business model. I can't see them waving goodbye to their investments without a fight - do you?

keith_r59

ManAtHome wrote: »

Parts of Euroland hacked them last year http://solarfeedintariff.co.uk/tag/spain/

Yes, for new installations which the UK were already planning to do from April 2012. Existing installations are unaffected.

penrhyn

Nothing lasts forever, remember HIPs?

Cardew

keith_r59 wrote: »

Well the companies who have invested millions of pounds in the "rent-a-roof" schemes think they will as that is the whole rationale behind their business model. I can't see them waving goodbye to their investments without a fight - do you?

I was musing that it would be future 'rent a roof' schemes - and that includes farmers who are letting these firms cash in - 'rent a field' - although the farmers get more financial reward.

While it will help get us off the oil hook, the problem is that we just cant afford it. Probably best that we sell ourselves into a lifetime of slavery and get the French to build some nukes over here.

The problem is that it doesn't cost the Government a penny. FITs are paid for my a levy on our electricity prices.

So we have a scheme, which produces just about the most uneconomical electricity ever generated, by dint of huge subsidies.

These subsidies are paid to those house owners who can afford £10-£15k for a system or to swell the profits of 'rent a roof' firms who have exploited a loophole in the regulations.

To add insult to injury these subsidies are paid for in many cases by the least able to afford increased electricity prices - including all those who rent, flat owner, and those with unsuitable roofs.

keith_r59

Cardew wrote: »

So we have a scheme, which produces just about the most uneconomical electricity ever generated, by dint of huge subsidies.

These subsidies are paid to those house owners who can afford £10-£15k for a system or to swell the profits of 'rent a roof' firms who have exploited a loophole in the regulations.

To add insult to injury these subsidies are paid for in many cases by the least able to afford increased electricity prices - including all those who rent, flat owner, and those with unsuitable roofs.

I don't disagree but unfortunately this is what happens when the previous UK government signs a legally binding commitment to reduce greenhouse gas emissions by 34% by 2020 (and 80% by 2050) without having any original ideas on how to achieve it.