Solar Subsidy Cuts Delayed
The government has today lost its bid in the high court of appeal to cut subsidies for solar panel installations. The news will be greatly received by anyone who was unable to beat the original December 12th cut-off date.
The unanimous decision by the three court judges to reject the appeal means home owners will now have until 3rd March 2012 to get a solar system installed and benefit from today’s ruling. But buyers should still be mindful as the government will likely seek permission to appeal to the Supreme Court. Installations from this date will see FIT (feed-in tariff) payments reduced by half.
This will still undoubtedly begin another solar panel ‘gold rush’ as personally experienced in November. I anticipate, contrary to the news of solar panel installation prices dropping recently, that this will now have an influence on prices inflating again until the new deadline has elapsed.