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Tuesday, 26 April 2011

Brussels warns Italy against slashing solar energy incentives

The European Union's energy chief urged Italy to set up a clear and predictable support scheme for the solar energy sector and ensure stability for investors to avoid possible penalties. Under a law passed in Italy in March, current generous incentives to the booming solar market - originally expected to run from 2011 to 2013 - will apply only to those solar plants that connect to the grid by the end of May. The law was issued in compliance with the EU's directive on 2020 green energy targets but the sudden change in the support scheme has caused uproar among investors and operators about the future of business in one of Europe's biggest solar markets.

Source: Euractiv