Revised Feed-in-Tariff rates
Date: 31 Oct 2011
Monday 31st October the government announced the revised Feed-in-Tariff for solar panels, the rate is currently 43.3p per kWh produced, tracking RPI for the next 25 years. The new rates for each system are detailed below:
Up to 4 kW 21p (this is the system an average domestic property will have)
4-10 kW - 16.8p
10-50 kW - 15.2p
50-250 kW - 12.9p
These will continue to track the Retail Price Index and the other rewards will remain available to you, such as free use of the electricity you generate and payment from the energy provider for the electricity that you don’t use. Even under the revised scheme solar energy is still a good investment financially as well as environmentally.
Any installation of solar panels after December 12th will form part of the new revised Feed-in-Tariff scheme. The previous figure which started the Feed-in-Tariff, has been described by many as ‘too good to be true’, the revised payments detailed above provide for a more sustainable industry and is still a good investment for those looking to make a good return on their capital.
For those who are due to have their panels installed before December 12th please ensure that you and your electricity supplier have received the application for FIT and a complete and valid MCS certificate before the end of the day on December 11th to ensure you are eligible for the current FIT rate.
If you install after December 12th but before April 1st you will receive the higher rate FIT until April 1st 2012 when you will start on the revised scheme.
For those who install after April 1st the extra requirement to obtain payment through the FIT will be that you need to evidence that energy efficiency requirements within the property have been met.
Please note those who have installed solar panels before December 12th will not be affected by the revised policy and will remain on the higher payment Feed-in-Tariff scheme.
If you would like to know more about the revised Feed-in-Tariff scheme or what return you can expect from your investment please contact us and one of our solar consultants will be happy to help you.