Solar subsidies setting in UK

“Overly generous payments to investors who installed solar panels were in danger of draining the scheme of funds.”

The Guardian reports:

Ministers have argued that they had to act quickly to slash subsidies to small-scale solar power because the cost of panels has dropped by nearly half in the past year – much faster than the previous government envisaged when it set up the scheme.

The government received fierce criticism from the solar industry and environmentalists after the cut and the decision was ruled unlawful in the courts. But ministers have argued that overly generous payments to investors who installed solar panels were in danger of draining the scheme of funds…

Read the entire report.