Feed-In Tariff Rates
How much you get paid will depend upon the type and size of the solar PV technology you use in your home. Aside from any green and aesthetic benefits the obvious virtue following a Solar PV installation is the saving created on all current and future electricity bills. Not only would these systems reduce your existing and future electricity bills, but you would also qualify for the Feed In Tariff payments for generating energy through the system. These figures i.e. Feed in Tariff payments increase year on year in-line with the RPI (inflation).
The FiT payments are paid quarterly by your existing or nominated energy supplier and are tax free. In addition to the Feed in Tariff an additional amount (Export Tariff) is added to the Feed in Tariff payment for all energy which is un-used and sold back to the grid. These payments are fixed for 20 years but do benefit from RPI increases. The Feed in Tariff payments are paid for each unit (kWh) of energy generated regardless of on-site usage. All systems under 30kWp are “deemed”, meaning that the client is paid 50% of the export tariff irrelevant as to whether or not they use and/or export any energy back onto the grid. Therefore a client would receive 100% of the Feed in Tariff and a minimum of 50% of the export tariff.
The electricity generated by a solar PV system is referred to as and measured by a kilo-watt hour (kWh) yield. The yield of each system is dependent on various factors which include geographical location, orientation of the property and pitch of the roof alongside other less pertinent factors. The yield of the system will directly affect the Feed in Tariff return and electrical saving. The higher the yield the higher the saving and return.
To see what this can all mean for you, please contact our team of experts who can confirm the current tariff rates and organise a free site survey to assess what the potential savings and income could be for you.