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Newly elected Queensland state premier Campbell Newman is rapidly moving ahead with his decision to abolish eight of Labor’s environment funds worth AUD$350 million. The affect of the state election could be seen as devastating, more so because Prime Minister Julia Gillard intends to make headway on climate reform.
Market research company, Five Star Equities, has released figures showing last week’s determination from the US Department of Commerce putting up barriers against Chinese manufacturers, had a negligible effect on solar stocks.
Drafts of the Italian fifth energy bill – Quinto Conto Energia – have been circulated over the internet. It states the solar PV budget will be reduced to €500 million and all installations over 3kW would need to be registered with relevant authorities. Priority will be offered to plants built in areas in need of regeneration or those built less intrusively. It is expected to come into force in July 2012.
The Supreme Court has rejected the UK government’s appeal over cuts to the domestic feed-in tariff scheme. In the latest of three court cases, judges upheld the decision of a Judicial Review that ruled the Department of Energy and Climate Change’s (DECC) proposed revisions to the FiT were “legally flawed”.
The hope that came with French President Nicolas Sarkozy’s announcement at the beginning of the month to apply a bonus to the existing feed-in tariff has been shattered. The Directorate General for Energy and Climate (DGEC) has announced that due to substantial legal and technical difficulties a timetable for the implementation of this bonus scheme has been postponed.
Following a meeting of the environment committee on Wednesday this week, the government has agreed on a maximum annual reduction in FiT rates. Effective April 1 and intended to be distributed over several months, the reduction will rise to 28% from 24%.
Canadian deputy minister Fareed Amin sent an update on Ontario’s two-year review of its FiT program, announced in October 2011, to the ministry of energy. The changes to Ontario’s renewable energy scheme include a 20% cut to the FiT for solar and a 15% cut to wind power. All other renewables will remain at the current level. Tariffs will be adjusted annually each November and will take effect on January 1 the following year, inline with market conditions. Prices ill be set once a contract is offered rather than when a project application has been sent to the relevant department.
The German Bundestag is collating information in order to make an authoritative decision on cutting solar FiTs in Germany by 20-30%. The environmental commission tasked with reviewing the draft bill has enlisted the guidance of six experts, one of whom is PHOTON publisher Philippe Welter.
Market analysts insist Belgium remains a profitable investment for solar manufacturers and consumers alike. An annual growth of 737MW of solar capacity and high residential growth rates of Q2 2011 allayed fears brought on by the July 1 digression of green certificates and abolishment of tax reductions.
Brazil is to usher in two new regulations this year to promote the generation of solar power in the country. The Brazilian National Electric Energy Agency will provide utilities with an 80% tax break for energy produced by large solar projects. For residential and commercial installations, the agency will introduce a net-metering system to feed electricity into the power grid.
