Italy’s Solar Tariffs Spur New 1 MW Project

[RenewableEnergyAccess.com] Big feed-in tariffs in Germany have sucked up worldwide solar demand but the same is occurring in other EU states with similar solar incentives. Thanks in part to Italy’s feed-in tariffs, Millennium Electric secured a contract for the company to provide solar photovoltaic panels for a large 1 MW solar project. Millennium inked the deal with Restruttura S.L.R., an established Italian company. The agreement calls for an initial payment of USD $242,000 for the first phase that is to be installed and a total of USD $6.5 million for the entire project, expected to be concluded in about 18 months. The project will deploy Millennium’s 160 W solar PV panels, connected to the Italian grid and capable of producing 1,500,000 kWh annually. Italy’s feed-in tariff will provide EU$0.50 for each kWh of electric energy that will be sold back to the local Italian Electric grid.

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