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Spain plans for an intense cut down of the solar PV support

 

The Industry Ministry has confirmed that the Spanish government is in plans to reduce the prices for the new solar photovoltaic (PV) system for up to 45%, on Sunday, besides bringing down the support for the small roof based systems by 5% and for the large roof based systems by 25%.

 

The planned proposals for the purpose of consultations have been sent to the Spain’s energy regulator and are reflecting the similar cut downs that are declared in Germany, recently.

 

The government and the energy firms after making discussions has announced the move over the scale of the cuts that were apparently broke down in the last week.

 

The industry insiders have cautioned that the deep cut downs will lead to the damage of the Spain’s flourishing solar industry’s development. But the government has argued that with the cut down of the cost of the solar panels, it will be capable to handle with the reduced support levels.

 

Proposals were even made that the ministers, in order to control the growing Spanish energy bills, can put in the retroactive cuts and lessen the incentive costs for the present solar PV installations.

 

The level of the cuts will strike a substantial contrast with the smaller than the expected cuts to incentives for wind and the solar thermal scheme, that the government has declared in the previous month.

 

The deal in relative to the modest cuts to subsidies will be phased in over 3 years.

 

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