Israel Electricity Authority Cuts Renewable Energy Subsidies
Translated & summarized from TheMarker by baba
Israel's Electricity Authority is proposing to cut subsidies for renewable energy, including a 5% annual reduction for new solar facilities. A new mechanism will link 40% of tariffs to the dollar, potentially lowering them by an additional 7%. Large facility owners will move to the free market, and dedicated grid connection tenders will begin in 2028, with the regulatory framework ending by 2047.
The story in 5 lines · by baba
- Israel's Electricity Authority proposes reducing support for renewable energy.
- New solar facilities will see a 5% annual subsidy decrease.
- A dollar-linked tariff mechanism could cut payments by an additional 7%.
- Large facility owners will transition to the free electricity market.
- Dedicated grid connection tenders start in 2028, with regulation ending by 2047.
Israel's Electricity Authority has published a proposal to reduce support for renewable energy, opening it for public comment. The new regulations, set for the next four years, include a 5% annual decrease in subsidies for new solar facilities. Additionally, a mechanism will be implemented to peg 40% of the tariff to the US dollar, based on a 3.5 shekel exchange rate. This dollar linkage is expected to further reduce the tariff received by facility owners by approximately 7%, assuming the dollar does not appreciate against the shekel in the coming year. Owners of large facilities are anticipated to transition gradually to a model of trading electricity in the free market. Starting in 2028, dedicated tenders will be held for grid connection, with the entire regulatory framework expected to conclude by 2047.
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