Boris Says No to London Feed-in Tariff Idea to Boost Solar Energy

By Gary Cutlack on at

London's mayor appears to have stuck the boot into those campaigning for the pushing of solar installations in the capital, saying there's no need for a local feed-in tariff to encourage solar power in London as the returns on investment are good enough already.

In a response to a question asked by London Assembly member Murad Qureshi, Johnson said: "I am of the view that we need a sustainable transition to subsidy-free solar PV. It appears that the changes to the FIT, whilst significant, should still ensure a solid return on investment of householders," adding that the current expected rate of return for unsubsidised solar sits at around five per cent -- a markup he thinks is enough incentive for people to stick their money in.

"This is still higher than most savings accounts, so I do not believe a London FIT is necessary to help the market make the transition to operating without subsidy given this rate of return," the mayor added, ending the sustainable energy free-money avalanche hopes of those lucky enough to own any sort of rooftop space in London. [Solar Portal]

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