The feed-in tariff system is designed as an incentive for home owners and building managers to move away from conventional fossil fuels to renewable energy sources. In simple terms it is government legislation which guarantees a fixed, premium rate for renewable electricity generated – even if it is used in the building!
Under this tariff you do not have to sell the electricity produced by your solar power system in order to get paid for it – and you will be paid extra for any excess electricity that you do export.
The UK government is committed to reducing its carbon emissions through the adoption of renewable energy sources, particularly in regards to the generation of power in order to combat climate change.
Feed-in tariff legislation fixes an above market rate for utility companies to buy electricity from homeowners who produce renewable energy with a solar PV system. It is this fixed tariff which makes renewable energy an attractive prospect as it guarantees a return over a long period and has been highly successful where it has been implemented across Europe. Germany for example now produces over 14% of its energy from renewable sources, something which has been attributed to the generous and comprehensive feed-in tariff system implemented by the German government.
*Assumes Feed in Tariffs implemented by the BEIS and electricity cost of £0.0404 per kWh; with all electricity being used. If electricity is sold back to the grid or energy company, it will generate £0.0503 per kWh on top of the Feed in Tariff. These tariffs are valid from 1st April to 30th June 2017. Electricity costs assumed at £0.15 per kWh and half of the solar generated energy is used in the property.
Tariff levels vary depending on the scale of the installation. The tariff levels shown in the table above apply to installations completed from 1st April 2017 for the lifetime of those installations. After this date, the rates decrease each year for new entrants into the scheme. All generation tariff and export tariffs will be linked to the Retail Price Index (RPI) which ensures they rise with inflation.
Please note that all rates above are from 1st April to 30th June 2017 and correct at time of insertion. These are subject to change at any time.
Please call 01562 977977 for more details.