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Tuesday, 27 October 2015 12:26

UK subsidy cuts could break renewable energy companies

Hundreds of green energy companies could be forced out of business in months with the loss of tens of thousands of jobs as the United Kingdom’s government appears determined to pull the plug on renewable energy, industry leaders have warned.

The Renewable Energy Association (REA), a trade association representing renewable energy producers, says it has tracked eleven major policy changes by the Conservatives since the general election which are having or will have a “negative impact” on the renewable energy industry.

Senior figures representing wind, solar and tidal power say “dramatic” subsidy cuts for renewables are scaring away foreign investors and could leave scores of British firms on the brink of bankruptcy.

The Solar Trade Association (STA) says 27 000 jobs could be at risk as the solar industry’s 3 000 firms face the cuts. Two solar panel companies, including one of the UK’s biggest installers, blamed the cuts when they went into administration last week with the loss of 1 200 jobs. Two smaller firms have also hit the wall.

Source: The Guardian

Link: http://www.theguardian.com/environment/2015/sep/18/australian-homes-among-first-to-get-teslas-powerwall-solar-energy-battery

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