Updated Feed-in Tariff timeline: The rise and fall of solar subsidies
With the Government's decision on major cuts to solar subsidies finally revealed, edie charts the rise and fall of the successful feed-in tariff (FiT) scheme which have been slashed by 64%.
In the wake of the legally-binding global climate deal established in Paris on Saturday evening (12 December), green groups and businesses believe UK Energy Secretary Amber Rudd is walking a line of “blatant hypocrisy” after committing to the proposed FiT cuts that were mooted in back in August -although the severity of the cuts were less than expected.
DECC announced its response to its FiT consultation – which ran for four weeks to 23 October – with the effects set to come into force at the beginning of 2016.
And in what some are calling a double attack on solar, reports emerged last week that the subsidy cuts will be delivered alongside a higher VAT rate on renewable energy generation projects, which could add £900 to a typical domestic rooftop installation.
Introduced in 2010, FiTs initially acted as a catalyst to drive uptake of solar systems among businesses and households alike. But in today’s landscape – shackled by red-tape and a looming complete shut-down – the FiT scheme is seen by many as an epitomy of the Government’s inability to pull the trigger on a fully low-carbon energy landscape.
Take a look back at the rise and fall of feed-in tariffs with our timeline of key moments that have shaped the subsidy scheme into what it is today.
Feed-in tariff: Timeline of events