IKEA Solar Project Achieves Grid Parity
The project has a total capacity of 696.15 kW and has been structured without a feed-in-tariff (FIT) approach. The power generated from the PV project will be at a levelized cost of electricity, which is equal to or less than the price of electricity being sold from the grid, meaning that even without subsidies, the solar industry is approaching grid parity in Italy.
Martifer Solar was responsible for the engineering, procurement and construction of the 2,700-module solar plant and will be responsible for the subsequent operation and maintenance.
FITs are used to a limited extent around the United States, but are more common internationally. Historically, FITs have been associated with a German model in which the government mandates that utilities enter into long-term contracts with generators at specified rates, typically well above the retail price of electricity.
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