Feed-in tariff latest update - 01.02.12
If you’re having trouble keeping up with the latest news on the government’s Feed-in Tariff (FiT) scheme, you’re not alone. We believe there remains a general lack of clarity on the current situation and therefore would like to help you try and understand what’s happening and explain how the likely outcomes may affect you.
There’s been much confusion lately on the topic of the feed-in tariff. Yet in actual fact, the message for new customers is simple:-
Install a solar pv system before 3rd March, and the FiT rate you receive is guaranteed to be no lower than 21p per kWh - giving you a substantial return of up to 10%.
There’s also a chance, and it is only a chance at this time, that your FiT rate may be raised to 43.3p per kWh depending on the outcome of an appeal by the Department of Energy & Climate Change (DECC). Either way, you’re still guaranteed a great deal, as long as you act quickly…….
Bring down your electricity costs AND receive 25 years of cash payments
Transform the cost of solar electricity panels into an attractive investment
The 'Feed in Tariff' (FIT) is a bit of a misleading title. It is really a 'generation' tariff where you get paid for every unit of energy you generate, plus a bit extra for any surplus units you 'feed-in' to the grid.
The Feed in Tariff is designed to reward owners of photo-voltaic (PV) solar panels with direct, tax free, cash payments from your utility company, for the electricity you produce over the next 25 years from your utility company. The Feed in Tariffs started in April 2010 with the highest payments being made to owners of smaller PV systems. These payments have transformed the economics of installing a private system.
The Feed in Tariff turns the price of solar panels into a very attractive investment indeed.
From 12th December 2011, the top rate of Feed in Tariff is 21p/kWh.
Once your system is installed, commissioned and paid for, you will recieve an MCS certificate. You will need this certificate to apply for your Feed-in Tariff payments from your energy company who are obliged by law to act as your FIT licensee for 25 years. A list of all the contact details of the FIT licensees is available in this link: http://www.ofgem.gov.uk/SUSTAINABILITY/ENVIRONMENT/FITS/APPLY/Pages/Apply.aspx