Italy approves draft solar regulation

The news agency states that it obtained its information from a government source. It adds: "The environment and industry ministers reached a deal this week after disagreements slowed down the signing of the decree, which has been in the works over the last couple of months."

As of yet, no other information appears to be available. Click here to read the full Reuters report.

The specifics

Under the final draft regulation, the cap for large systems in the second half of this year has been lowered to 1.2 GW, and €300 million, as opposed to the 1.35 GW and €447 million laid out in the previous draft regulation. Meanwhile, in 2012, it has been lowered to 1.49 GW and €280 million, instead of the 1.75 GW and €373 million.

Furthermore, 2013 will see the market sale of solar electricity eliminated, and the country’s 2016 solar target will be raised from eight gigawatts to 23.

Feed-in tariff premiums, on the other hand, will be cut by between 28 and 42 percent in the second half of 2011. However, as analysts at Jefferies & Company Inc. point out, the cuts, when including the market sale of electricity at approximately €0.08 per kilowatt hour, actually work out at between 23 and 33 percent in the second half of the year, and just 12 to 15 percent in 2012.

As was reported yesterday, the industry is getting restless in its wait for the new Conto Energia to be signed. Maybe now Italy’s government has agreed on the final draft regulation, the changes can finally be put into motion.