FiT cuts threaten 70 percent of PV firms, warns NAPIT

NAPIT trade association chairman, Frank Bertie
NAPIT trade association chairman, Frank Bertie
NAPIT is urging the government to urgently revise proposals to cut the Feed-in Tariff by 87 percent, which it says will cripple the industry.

NAPIT’s own research showed that 70 percent of respondents would see their financial stability affected to the same degree as if they left the PV sector altogether. Four out of five said they anticipated the amount of installations they complete to fall by 80 percent or more.

The government is expected to announce its plan for the Feed-in Tariff in the next few weeks, with changes to take effect as early as January 2016.

NAPIT trade association chairman, Frank Bertie, said: “The PV sector has experienced record growth in the past year and is currently leading Europe in bringing output from renewables into line with levels produced by nuclear power.

“But, from next year, the government is proposing to cut tariff subsidy levels for the technology by up to 87 percent, essentially throwing a stick into the spokes of the industry on the brink of becoming subsidy free.”

He added: “The feedback we have received suggests the government could be on the cusp of destroying a huge chunk of the PV supply chain, and with it the livelihoods of thousands of hard working people.”