Government Cuts to Solar Power Funding

Governments across the world are trying to cut the funding available to solar power industries as FiT schemes earn solar panel owners hundreds of pounds.

Feed-in Tariff schemes were introduced in many countries to boost their solar power industries – Homeowners and businesses generating electricity from solar panel systems could give excess electricity back to the national grid, and earn money for every KW of energy they produced. As solar power starts to take off, those in charge are now looking to reduce the level of funding the industries receive as the costs start to run ever higher.

In the UK, homeowners could earn 43p for every KW of electricity they fed back to the grid, but now the government is rushing through proposals that would cut the rates down to 21p a KW, halving the amount they can earn through solar power.

Germany is also trying to reduce their funding to renewable energy, reducing their rates every month by €0.15 from May 1st, until 2013. Further cuts will then be made every year until 2016, reducing the incentive for many to go through the hassle and expense of installing solar panels in their home.

It looks like the USA is the most supportive nation for solar power at the moment, with steady funding from different organizations for schools, hospitals and low-income housing projects, and incentives for solar panel installations.

For those more interested in saving the planet than the FiT schemes and energy industry politics, solar panels are still among the greenest and cleanest ways to cut your carbon footprint and save money, with average yearly electricity bill savings $100-$200. With solar panels you can cut your reliance on big energy companies and live off renewable energy wherever you are.

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