Feed-in Tariff (FiT) - Solar PV now makes financial sense
Thanks to the government's new Feed-in Tariff it's a great time to go solar. From the 1st of April 2010, anyone who installs a solar electric (PV) system will benefit from the Feed-in Tariff (FiT). Already a huge sucess story over in mainland Europe, the FiT will help thousands of people in the UK live more sustainable lives and generate their own electricity, making solar PV a financially attractive and viable option.
Here are the key benefits of the new Feed- in Tariff:
- A payment on the electricity your PV system generates whether you use it in your building or not
- Guaranteed payment for 25 years
- Tax- free income
- The payments are inflation linked
- Government has aimed to provide a 7-10% rate of return
- 3p export tariff - for everything you don't use
- You will import less energy from the national grid - so your bills will drop
The price that you are paid depends on the size of system you have installed
| Technology | Scale |
Tariff level for new installations [NB inflated annually] |
||
| |
Year 1 |
Year 2 |
Year 3 |
|
| PV | ≤ 4kW (new build) | 36.1 | 36.1 | 33.0 |
| PV | ≤ 4kW (retrofit) | 41.3 | 41.3 | 37.8 |
| PV | > 4-10 kW |
36.1 | 36.1 | 33.0 |
| PV | >10-100kW | 31.4 | 31.4 | 28.7 |
| PV | >100kW-5MW | 29.3 | 29.3 | 26.8 |
| PV | Stand alone system |
29.3 | 29.3 | 26.8 |
The rates paid above are for EVERY UNIT of electricity that your system generates. If you don't use it all it will be exported back to the national grid and you will receive an ADDITIONAL 3p for each of these units.
See how you could benifit with our Feed-in Tariff calculator
