Cuts to the amount of subsidy for technology has halted the market for large solar panel projects
The market for large solar panel projects has come to a “screeching halt” after the government slashed the amount of subsidy for the technology, according to property agent Jones Lang LaSalle.
On 18 March a review of the feed-in tariff subsidy proposed cutting the amount of subsidy to arrays over 50kW - around the size of two tennis courts - by between 40% and 70%.
JLL said that commercial developers such as shopping centres and business parks are now “putting their projects on hold and will ultimately terminate them if the proposed scheme is accepted.”
The government justified the move by saying that huge fields of solar panels were diverting money from smaller, domestic PV that the tariffs were aimed at.