UK to slash solar panel subsidies for investor class, keep incentives in place for homeowners-BBC

3/18/11, "UK solar panel subsidies slashed," BBC

"The UK government has proposed cuts of up to 70% to the feed in tariff for large scale solar energy production.

• The proposal would be implemented on the 1 August, reducing payments to farmers or owners of large commercial buildings.

The industry has reacted with anger to the proposal.

And investors have warned that cutting the scheme just a year after it was created will deter further investment in renewable energy....

According to the government's proposal, , which is subject to consultation, payments for any solar installation

• over about 50kW would be reduced.

The full reduction would apply to installations from 250kw to 5MW - the standard size for a farm based scheme.

• "It's an absolute disaster," said Ray Noble, solar specialist at the Renewable Energy Association.

"No new projects will start after this comes into effect."

• The tariff had not been due to be reviewed until 2013.

The new scheme is designed to preserve funds, which come from consumer bills, for schemes

• on domestic roofs.

These tend to be more expensive and generally need greater subsidies.

Climate change minister Greg Baker said the new tariff will be on a par with subsidies paid for

• large scale offshore wind.

"I want to make sure that we capture the benefits of fast-falling costs in solar technology to allow even more homes to benefit, rather than see that money go in bumper profits to a

• small number of big investors," he said."...

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