Future of solar energy in trouble?

The future of solar energy has been cast in doubt as the coalition government considers slashing the subsidy for feed-in tariffs (FITs), which pay homeowners for producing energy.

The Department of Energy may cut up to 75% in FITs, which insiders said would ‘kill the industry stone dead’.

An announcement is expected by the end of the year. In the past 12 months the number of people working in the industry has jumped from 3,000 to 26,000 and installations have doubled since June to more than 85,000 in a scheme that started in April last year.

As the cost of solar installation plunges – in the past 18 months prices of solar panels and installations have fallen more than 20 per cent – the Solar Energy Industries Association is expecting the subsidy to come down.

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