During the spending review today, Chancellor George Osborne announced:
“The efficiency of feed-in tariffs will be improved at the next formal review, rebalancing them in favour of more cost effective carbon abatement technologies. This will save £40 million in 2014-15. Support for lower value innovation and technology projects will also be reduced, saving £70 million a year on average over the Spending Review period.”
The announcement follows speculation that the Coalition would slash the Department of Energy and Climate Changes initiative set by Labour in April.
Ref: Spending Review 2010