Solar power in Britain over the past few years has mushroomed, especially during the six weeks before December 12th 2011. This is when the British government tried to close a gap in a solar power scheme the previous government created. The reason ‘it seems’ is that the deal was too good to be true!
Homeowners who installed solar panels could receive a tariff rate of 43.3p per kilowatt-hour with returns predicted at 18% per annum on one initial investment over 25 years. In October 2011 the British government announced it would reduce this figure to 21p from December 12th.
This was challenged by the Friends of the Earth in court. On January 25th the Court of Appeal released its verdict on the government’s appeal. The judges agreed it was unlawful to change the feed in rate to 21p before March 3rd 2012. The British government immediately launched an appeal but this was immediately rejected. Homeowners have until March 3rd to get a completed system registered at the 43.3p receivable tariff rate.
Category: Business / Technology / Solar Energy