Monday, September 3, 2012

Australia's Victoria set to slash rooftop solar FIT level

Australia's Victoria set to slash rooftop solar FIT level - Finance - Renewable energy news - Recharge - wind, solar, biomass, wave/tidal/hydro and geothermal:
"The Australian state of Victoria is to slash its solar feed-in tariff (FIT) to A$0.08/kWh ($0.082) from A$0.25/kWh effective from 1 January 2013."
State energy minister Michael O’Brien announced the cut today as part of a policy to widen the remit of the FIT beyond solar to include all renewables and low-emissions deployments of less than 100kW.
From the beginning of 2013, the new tariff will pay owners of rooftop PV systems a minimum of A$0.08/kWh for their exported electricity.
The rate will be updated each year in line with the wholesale electricity price...
The entire article, which can be read at, notes:
"Australia’s Clean Energy Council says the solar industry is bracing itself for yet another boom-bust cycle following Victoria’s decision."
In my opinion exorbitant FIT offers are exactly what has been driving boom-bust cycles.

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