Spain boosts subsidies for solar power projects

clipped from www.worldofrenewables.com Spain was the world's hottest solar power market last year as plants were built in a rush to take advantage of a generous but costly subsidy scheme which ended in September. The CNE energy watchdog has tallied at least 2,600 megawatts of solar power capacity installed by the Sept. 30 deadline, and estimates there may have been up to 3,700 MW, compared with 691 MW at the end of 2007. If the estimate proves correct, the increase of 3,000 MW in Spain last year would outstrip all new plants installed in the world in 2007, and make Spain the world's second-largest solar generator after Germany. In its second quarterly tender held this year, the industry ministry said the solar projects would be entitled to receive "feed-in" tariffs of up to 340 euros ($442.8) per megawatt-hour for 25 years. Feed-in tariffs are designed to make solar and other renewable energy technologies gradually competitive with conventional energy, and compare with wholesale power prices of 40-44 euros/MWh in Spain