Solar Panels Newport
Solar Panels Newport
Carter Thomas Construction Solar Division
Carter Thomas ConstructionSolar Division

The Feed-in Tariff (FIT)

 

 

Solar PV makes financial and environmental sense

 

 

The Feed-in Tariff (FIT) will pay a premium for energy generated by renewable energy systems like solar panels. It is designed to get more of us using renewable energy and encourage low-carbon living.

 

 

The scheme has been introduced by the Department of Energy and Climate Change (Decc) and is administered by the energy watchdog Ofgem.

 

 

To register on the FIT scheme your installation must be registered by your installer on the MCS database. You can then apply to your energy supplier (e.g. Good Energy who are known to be particularly helpful with this) and they will add you to the central FITs and agree to make payments to you. We will do all the relevant paperwork and applications for you to ensure a smooth and stress free installation.

 

 

As a result, many people now treat solar PV as an investment as well as a carbon saving alternative to fossil fuels.

 

 

MAIN FACTS

 

  • Payments are guaranteed for 20 years from the day you sign up
  • You are paid for all the energy you generate, whether it is used or exported back to the grid.
  • You are paid an export tariff on top of this.
  • Rates are index linked (RPI) and so will continue to rise in line with inflation.
  • FITs are designed to provide a return of between 5% and 8% rising to 12% with electrcity savings.

 

The rate of premium you are paid depends on the size of your installation, this has been divided into brackets as per the table below. To qualify for the full tariff rate, buildings must attain an Energy Performance Certificate (EPC) rating of D or above. This is a measure brought in by the government to try and promote energy efficiency as the first step in greening our housing stock.

We will be able to give you a good idea of your likely rating over the phone and will even arrange for an energy assessor to visit as part of our service.

 

 

FIT RATES FOR SOLAR PV FROM 8th FEB 2016 TO 31st MARCH 2016

System Size Bracket Tariff Rate per kWh

≤10kW

4.39p

>10-50kW

4.59p

>50-250kW

2.70p

>250-1MW

2.27p

>1MW

0.87p

Stand Alone

0.87p

 

 

 
UPCOMING DEADLINES
 
 
The FIT is scheduled to change in value as time goes by. The government has introduced a cost control mechanism that aims to keep returns from the FIT in line with cost decreases in the industry in order to preserve the longevity of the scheme. Every three months the FIT changes, these occur in January, April, July and October.
For more information on potential changes to the FIT, you can go also direct to the source: the Department of Energy and Climate Change website
 
 
 
 
 
 
 
 
 
 
 
 
find local tradesmen - TrustMark government endorsed standards
Print Print | Sitemap Recommend this page Recommend this page
© Carter Thomas Construction Ltd