Feed in Tariffs
Much has been said about the Feed in Tariff, which is the government's scheme to ensure that we are paid a premium rate for the electricity generated by us at our own premises, (our homes, our offices, factories, churches, community centres, schools etc). The actual level of payment per unit has now been decided following the government's protracted consultations, and it is now clear that this will not only dramatically reduce the time your PV system will take to pay for itself, but also provide a very respectable 7% to 8% return on the investment you make in your solar PV generating system.
The tariff will be introduced from April 2010 so there has never been a better time to install PV. The feed in tariff was introduced as a model in Germany back in the early 2000s, and in Spain a little later and has proved to be immensely successful in that electricity generation with PV has become widespread and effective in all manner of settings, from small home installations, to the largest commercial premises. Call us for more information about how the tariff will affect you, whether you already have PV or whether you are planning to install this technology.
Feed-in Tariffs - the important bits
- Earn from every kilowatt hour GENERATED regardless of how much of it you use yourself
- Tariff set by government - up to 41.3 pence per kWhr or unit, based on type and size, plus 5p bonus for power exported (ie the electricity you don't use yourself (so you are paid twice for this!)
- PAID OUT for 25 years for solar PV
- Feed-In Tariffs wiull be TAX FREE and INDEX LINKED, meaning that they will keep up with inflation which is very important when comparing it to other ways of investing your money
- Household and business users
- Comes into force April 2010
- New systems installed from now will qualify if installed my an MCS accredited installer, as Ecovolt Ltd are and have been for 3 years.