UK submits plan to cut home solar panel subsidies

Published 19th Jan 2012

Britain's energy ministry on Thursday submitted plans to parliament to cut subsidies for solar panels on homes from March 3, it said.

The submission paves the way for the government to halve subsidies for solar panels after an unexpected boom in demand last year threatened to exhaust the support budget, the Department of Energy and Climate Change (DECC) said.

The proposed tariff cut to 21 pence per kilowatt-hour will save the government an estimated 700 million pounds annually by 2014-15, but solar panel manufacturers and installers have warned it would mean the loss of many jobs.

Source: ' Reuters '

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