The Italian energy authority has announced that FIT payments for photovoltaic generated electricity will cease on July 6 after the budget cap for incentives was reached on June 6.
The Autorita' per l'energia elettrica e il gas Aeeg said that the 6.7 billion (US$8.8 billion) limit has been reached and, in line with the solar subsidy legislation introduced in 2005, FIT payments will cease for all new installations from July 6 onwards.
According to Bloomberg, the Italian program prompted more than 526,000 photovoltaic projects amounting to more than 17 GW of total installed capacity with more than 727 MW being installed this year.
Italy is following fellow austerity-hit southern European countries with Spain and Portugal having halted their FIT regimes last year and with Germany also considering changes to its FIT regime following elections due in September.
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