Slashes to Tax Relief for Community Energy Schemes

Last week the Government announced plans to slash the tax reliefs available to community energy projects by at least 30%. The plans to cut tax reliefs for community energy schemes to build new renewable power capacity such as solar and wind. Green campaigners have warned of the adverse affects this will have on the UK's renewable sector.

These changes were announced during the third reading of the finance bill last week and came about completely unexpectedly. No longer will investors in community energy projects be able to benefit from Enterprise Investment Schemes, or the Social Investment Tax Relief as well as other schemes. This in turn makes the investments less attractive due to the sudden decrease in monetary benefit.

What Happened at the Weekend

A great weekend of news for renewable energy this weekend with great results from various projects, access to funding, and finding out how renewables can affect poverty. The main downside this weekend was the news about British Gas and their profits - further encouraging consumers to make sure they swith their supplier and get the best deal for their money.