Spain announces new FITs
19. November 2010 | Applications & Installations, Industry & Suppliers, Markets & Trends, Top News | By: Oliver RistauAfter months of discussion and negotiation with the industry, the Spanish government has finally approved the new photovoltaics feed-in tariffs (FITs).
As expected, with the enacting of the new Royal Decree (Real Decreto), tariffs for rooftop installations up to 20 kilowatts (kWs) will be reduced by five per cent, while those over 20 kWs will see a 25 percent reduction. Tariffs for ground-mounted installations, on the other hand, will be cut by 45 percent.
There was also positive news, as the Council of Ministries decided against introducing retroactive cuts, despite fears to the contrary. However, projects that were approved by two older Royal Decrees in 2007 and 2008, and which originally didn’t have any time limitations, will now receive the FIT for 25 years only, instead of for their lifetime.
The new regulations will come into effect in the fourth quarter of this year.
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