Italy encourages solar power investment

13 Jul 2010
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The Italian government is looking at plans to introduce legislation that will see tariffs paid on energy from solar plants cut.

Following a draft bill that was circulated on June 1st, it is proposed that the tariff will decline by six per cent every four months next year and a further two per cent in the two years after, Bloomberg reports.

Francesco D'Avack, a solar analyst at Bloomberg New Energy Finance in London, stated that the move will make the rates paid for solar utilities in the country among the most attractive in Europe.

He added that the news from the Ministry of Economic Development could create a surge in solar developers looking to build plants in the country, much as has happened in France and Germany.

The number of European nations using renewable energy sources is on the increase, with the European Commission showing that 19.9 per cent of energy used in the European Union during 2009 came from sustainable and green sources.

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