Government Feed In Tariff To Be Slashed

Government Feed In Tariff To Be Slashed

What is the Feed in Tariff?
The Feed In Tariff (FiT) is a guaranteed price that is paid to the owners of solar panels for energy that the system generates over 20 years. It is also currently linked to the Retail Prices Index. In September 2015 the Feed in Tariff (FiT) scheme price was 12.92p per kWh, from October it is 12.47p per kWh and the proposed price in January will be a maximum of 1.65p per kWh. A drop of approximately 87%.
If you want to take advantage of this government payment, guaranteed for 20 years you will need to have the solar panels installed and connected to the National Grid by 31st December 2015. It’s worth knowing that this is a guaranteed payment, for 20 years and linked to the RPI, meaning is will go up every year. The payment is also based on generation of electricity and not export, so if you make more energy than you use in your house you might be able to sell some to the National Grid to make more money.
Remember, you may need planning permission to install solar panels. Contact us to find out.