Feed In Tariffs (FITs) in UK
Feed In Tariff’s (F.I.T’s) via Solar PV
All Solar PV systems that are installed by MCS approved installers are eligible for entry to the Feed in Tariff which gives householders an annual income for 25 years and indexed linked to RPI.
As an incentive to boost the renewable energy sector and to reduce the UK’s carbon footprint, the Government has released the Feed In Tariff which rewards anyone that has solar photovoltaic panels installed on their property.
Under this scheme, you get paid for all electricity that your system produces regardless of whether the energy is used to power your home or not meaning essentially you get twice the benefit.
An approved installation includes a “Generation” Meter. The meter records the amount of electricity that has been generated by the solar panels and is also used to calculate the amount of surplus electricity that has been sold back to the energy company.
These figures are then used to calculate how much money you are due in addition to the savings on your energy bill. The payments you receive from the FIT are made up of two sections. You receive 43.3p(21p from 12th Dec 2011) for every unit of electricity generated which is guaranteed and indexed linked against RPI (Retail Price Index) for 25 years.
Also an assumption is made that you will use around half of the energy produced by the Solar PV system.
Therefore if you are paying 20p per kilowatt to your energy supplier then they will pay you an additional 10p for each Kw your generation meter has recorded. Thus you will recieve around 53.3p (31.3p from 12th Dec 2011) for each kilowatt of power recorded on your generation meter.
- Get money back from the Government
- Earn a tax free income for 25years
- Reduce your carbon Footprint
- Generate your own electric and sell to the grid
- Free survey with no hard sales pitch