Consultation on FITS

The Department of Energy and Climate Change (DECC) yesterday published a consultation document on reforms to the Feed-in Tariffs (FIT) scheme, which rewards those who adopt green technology by guaranteeing minimum prices for excess power fed back into the national network.  The plan would see an 87 per cent reduction in the payments offered to eligible new schemes – a crucial consideration for offsetting the cost of hardware installation.  The move is part of a wider plan to reduce the cost of renewables subsidies funded by levies added to household energy bills, which DECC says is on target to cost £1.5 billion more than its £7.6 billion allocated funding cap by 2021.  Details at; consultation closes 23 October.