Spain announces more PV FIT decreases

The Spanish Council of Ministers decided last Friday, February 1, on the introduction of a different mechanism to calculate the annual inflationary compensation of the FITs for renewable energy systems.

According to the government, compensation will no longer be linked to the consumer price index. The change is expected to save around €340 million annually.

Spanish solar industry organization UNEF, which has criticized the move, calculates that while an inflationary compensation of plus 2.975% will be seen in 2013, the new one will see tariffs reduced by 0.028%.