On 10 July 2012, the new decree on the incentive system for the production of electricity by photovoltaic (PV) plants was published in the Official Gazette. The Fifth Conto Energia introduces severe limitations to the access to feed-in tariffs (FiT) for utility scale PV facilities. Like its predecessor, the Fifth Conto Energia provides for a differentiated incentive system, depending on the type and size of the PV systems, and limited half-yearly expense budgets for larger PV plants that are distributed on the basis of a priority ranking system. The new tariff system will apply to PV plants starting operations after 27 August 2012 and will remain effective until 30 days after the annual aggregate cost of PV incentives has reached €6.7 billion.

Entrance into Force and Applicability -

Decree 5 July 2012 of the Ministry of Economic Development, in conjunction with the Minstry of Environment and of the Protection of the Territory and the Sea, regarding the incentive system for the production of electricity from photovoltaic source (the Fifth Conto Energia) entered into force on 11 July 2012, after publication in the Official Gazette. The new incentive system applies only 45 days after the official announcement, by the Authority for Energy and Gas (AEEG), that the aggregate annual cost of incentives for PV plants has reached €6 billion. The official announcement by the AEEG was published by means of Resolution no. 292/12 of 12 July 2012, meaning the new incentive system under the Fifth Conto Energia will apply as of 27 August 2012.