The European PV Industry Association (EPIA) also underlines the importance of creating a sustainable, long-term market, and adds that the development of many projects could be threatened by the review, which "risks an unusually long period of uncertainty".
Furthermore, an article in the Guardian ?states that investors are abandoning solar projects and revising their investment strategies. The newspaper reports: "Speaking on the sidelines of an investor briefing at the London Stock Exchange this morning, Andrew Newman, finance director of Low Carbon Investors (LCI) said that since Monday the company had shelved all investment plans for solar photovoltaic projects with over 50 kW until the fast track review of support for larger solar projects is finalised."
However, according to pv magazine’s PV poll of the week, which asked readers whether the UK Government made the right decision, opinions are divided, with 41.7 percent believing it will allow appropriate adjustments to be made in light of the number of proposed solar farms. In contrast, 50 percent feel that it will undermine investor confidence and negatively impact the market.
EPIA says it is willing to provide advice to the government over the FIT issue.
Eleni Despotou, EPIA Secretary General comments: "In times of economic crisis, it is essential to encourage the development of a promising sector such as photovoltaics, which can create thousands of local jobs. The UK should raise its ambition and widely deploy PV, a decentralized well proven renewable electricity generation technology. According to estimates by EPIA, UK has been identified as having the fifth largest technical potential for PV in Europe. The UK also has significant existing manufacturing as well as new opportunities."
Watch out for the March edition of pv magazine, which will be covering the UK market in more detail.