Changes in the Solar industry- What you need to know.
The EU announces they could be removing the incentives for smaller, domestic users of solar panels, threatening the Solar industry.
The Incentives are used to encourage smaller users to adopt solar panels, and give the owners the opportunity to sell the energy to the grid for a fair price. This is to encourage the adoption of solar panels away from energy companies and giving the opportunity to smaller entities to produce their own energy. This has led to the adoption of solar panels by homes and small businesses, which can turn profit by selling their energy back.
If these incentives are removed, it is very likely that there will be a large decline in their adoption, not to mention outcry from individuals who have already had them installed. It has been discussed that small scale solar panel owners will be met with an exemption to the changes, which would therefore replace the needed incentives.
However, this has been met with scepticism by some corners of the energy industry. Claims that it will halt or interfere with fair competition have followed the scheme, which is set to be approved soon as EU leaders are making progress in discussions.
This may be yet another upheaval in the ever-changing renewable industry. Recently, this sector has seen unprecedented growth, especially regarding solar panels. The price of solar panels fell by 37% in real terms in 2017, meaning that now would seem to be a good time to invest in this renewable energy, if these changes do fail to materialise.
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