Among other aspects, such as Quality and Environmental certifications, this latest version stipulates a share of at least 60 percent of components originating from the EU in order to benefit from a 10 percent bonus, which is added to the feed in-tariff rates.
This legislation renders investing in a Sovello solar power system even more attractive for our customers in Italy. Sovello welcoms this development: We obtain the majority of our primary materials and components from the EU. Furthermore, given that our products are produced completely in Germany, from the melting of the silicon through the production of wafers and cells to the assembly of modules, our value-add is significantly above 60 percent within the EU. For this reason, we believe that we will be able to qualify for this feed-in tariff bonus with our high-performance quality modules in the globally important Italian market, states Dr. Ted Scheidegger, CEO of the Sovello group, in reference to the new regulations.
The Italian Ministry for Economic Development had issued a decree on 5 May 2011 that regulates subsidies for solar systems until 2016. The law anticipates a total installed capacity of 23 gigawatts (GW) until end of year 2016.
