Today, the government announced how it was reducing the support it gives to the solar industry through Feed in Tariffs or FITS. The slashing of support will be felt most significantly among those new clean energy companies who have invested heavily in manufacturing solar panels. According to the magazine, Business Green, over 20,000 new jobs were created last year in the solar industry. Now as a result of the halving of most of the tariffs, those companies face a difficult year ahead.
Yet once upon a time FITS were all the rage – indeed when he was keen to show off his green credentials, the then leader of the opposition David Cameron came to Greenpeace and gave a speech on why they were so important to the environment and for green economic growth.
This is what he said: So the question David Cameron and his coalition government has to answer today is why were FITs the answer in opposition but the wrong solution in government?