Spain plans to reduce payment rates for existing facilities by 30 percent16. June 2010 | Top News, Markets & Trends, Industry & Suppliers | By: Luis Lopez
During a controversial closed meeting held today, Spain’s Industry Minister, Miguel Sebastian informed industry associations that from July 1 remuneration rates for existing photovoltaics plants could be drastically reduced.
The Spanish ministry has, however, given the industry associations another 48 hours time to discuss the proposed law and to submit any counter proposals they have.
Particularly affected would be more than 2,500 megawatts of installed photovoltaics capacities built under the liberal Royal Decree 661/2007, which could see reductions of 30 percent in the future. Those who went on the grid under the Real Decreto 1578/2008 remain unaffected.
Already in 2008, solar parks saw a 30 percent reduction, from 45 to 32 cents per kilowatt-hour.
There are also proposed cuts for new installations too. In terms of facilities in open spaces, there will be a 45 percent reduction, rooftop installations will be reduced by 25 percent and smaller installations will see a fall of five percent.
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