Western Australia succumbs to calls to leave FiT alone
The State Government of Western Australia has announced that it has reversed the decision to retroactively change the residential net Feed in Tariff (FiT) rate. State Cabinet agreed to the reversal of the decision this morning.
"Quite simply, we got this decision wrong and we have to fix it," Western Australia Premier Colin Barnett boldly stated. "We have listened, and we appreciate the commitment that many people have made to take up renewable energy, like solar power."
A recent IEA report stated that one of the most damaging things policy makers could do to renewable energy uptake was to retrospectively reduces FiT payments.
"We understand that this measure would have had an unfair impact on one section of the community and it has to be reversed," concluded Barnett.
