Photovoltaic tax credits cut back

In France, tax credit for photovoltaic energy is set to go down from 50% to 25%, and disappear completely for overseas departments, after a vote in the National Assembly on 22 October 2010. The French overseas business federation has estimated the move will threaten 1,700 jobs, and there are concerns over its environmental implications. However, it has been defended as a necessary economic move in line with market changes, with supporters pointing out that the tax credit funds half of the purchase price of the solar panels, which are 90% imported from China. It is thought the state will gain around EUR 230mn (USD 320.15mn) from the policy from 2012. The measure will be reviewed in June 2011.For more information, go to: http://bit.ly/bxsi3Z