The government have also stated that they will be looking to take off in the region of £40million pounds from the yearly budgets or 10% from any projected costs of a solar panels / power / green scheme.
With this in mind, it will have a major effect on the future of the growth of green solutions.
Mr Barker said: “I want to drive an ambitious rollout of new green energy technologies in homes, communities and small businesses and the FIT scheme has a vital part to play in building a more decentralised energy economy.
“We have carefully considered the evidence that has been presented as part of the consultation and this has reinforced my conviction of the need to make changes as a matter of urgency.
“Without action the scheme would be overwhelmed.”
“The new tariffs will ensure a sustained growth path for the solar industry while protecting the money for householders, small businesses and communities and will also further encourage the uptake of green electricity from anaerobic digestion.”
Friends of the earth campaigner, Donna Hume commented: “This consultation has been an utter farce – Ministers have completely ignored warnings from community groups and investors about the devastating impact of slashing payments.”
“With mounting concern about the rising price of fossil fuels and the impact of global climate change the Government should be increasing financial support for clean, green energy – not cutting it.”
“Germany has given proper funding to its solar industry and consequently its fuel bills there are falling – but the UK is saddled with shrinking green ambition and soaring fuel bills.”
“Our schools, businesses and housing estates could become mini-power stations so we all play our part in the renewable energy revolution – but yet again the Treasury has stamped on the green shoots of a low-carbon future.”
What do you make of the funding cut? Were you thinking about installing solar panels into your home or business?
What effect will this have on green businesses such as Ploughcroft Solar?