The most popular UK solar subsidy cuts may lead to

2022-08-07
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UK solar subsidy cuts may lead to bankruptcy

in an interview with Reuters on Tuesday, the leader of Britain's largest independent solar energy enterprise said that the government's plan to reduce subsidies for solar projects may lead to the bankruptcy of many renewable energy enterprises

energy minister gregbarker said on Monday that if the measured value deviates from the standard value far enough to cut the subsidy support for small-scale roof solar power generation, it is estimated that 700million pounds will be saved in years

"if the plan is formulated, it will lead a fast-growing industry into an era of job reduction and fiscal revenue contraction," said Jeremy Leggett, founder and chairman of solar century in London

"it will lead to many other 'bankruptcy' problems in the industry."

for solar century, the plan may have a significant impact on the company's business, but it will not lead to bankruptcy because the company has a large amount of working capital and a large customer base

the company's fiscal revenue this year is expected to increase from £ 50million in 2010 to £ 70million. However, the 2012 fiscal revenue forecast is elusive due to the uncertain subsidy policy in the UK

attacking the fossil fuel industry

leggett condemned the oil and gas industry for the decline in the renewable energy sector. He believed that fossil fuel companies had successfully persuaded the government to reduce their support for the alternative energy industry

like the UK, Italy and Germany, the world's solar photovoltaic giants, have also cut subsidies to reduce government spending against the backdrop of the global economic downturn

the Nanjing municipal government proposed that "

" as renewable energy in some countries begins to erode the fossil fuel market and affect their business prospects, they are trying to devour us, "he said

within a few months after the reduction of subsidies caused the price of solar panels to drop by 20%, solar companies solyndra, evergreen solar and spectrum watt applied for bankruptcy protection successively

leading oil industry executives said that the current is not a good time for some renewable energy industries to develop

with computers

"let us seize the opportunity to develop some renewable energy in the right way and put them on the development agenda at the right time." Peter Voser, chairman of Royal Dutch Shell, said at a meeting in Singapore on Monday night

"I don't think any country in the world has the ability to subsidize the R & D expenses of science and technology that have not been used for mass production."

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