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Solar PV - Feed in Tariff |
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NEWS UPDATE: The Feed in Tariff rate from 1st Jan 2016 is 12.06p/kWh (<=4kWp). This will provide more than 10% ROI. This rate is likely to be cut by approx 80% from February 2016.
The Feed in Tariff (FiT) is a Government incentive, to encourage both commercial and domestic customers to generate electricity from renewable sources, and reward them for doing so. The FiT came into force on April 1st 2010, the amount paid to the consumer depends on a number of factor, detailed in the table below. This type of scheme has been running successfully in Germany for several years. To provide an initial boost to the industry the Government has launched the FiT on a very generous basis. The FiT rewards the system owner by paying them for every unit of electricity generated. The electricity generated also supplements the use in the property so the bill payer saves again through needing to purchase less electricity. Over the coming years as installation volumes increase and costs reduce the Government intends to reduce the tariff to new entrants to maintain a constant return on investment. The next planned FiT review is April 2015. The table below outlines the relevant generation tariff for the type of installation and also outlines the period for which the tariff is guaranteed.
Note: The above feed in tariffs are available from 1st Jan 2016. The tariffs are likely to be reduced from February 2016 by approximately 80%. Cut off dates refer to eligibility date and NOT installation/commissioning date (your eligibility date is provided by your electricity supplier once you have submitted your FIT application). These rates assume that your property can achieve a band D or above Energy Performance Certificate (EPC). Please try our Solar PV Payback Calculator to find out how much you could save. MCS Approval The PV Feed in Tariff is only available to those that have solar electricity panels installed by an MCS approved installer utilising MCS approved products (such as 1ntelligent Energy Solutions). Please be wary, some MCS approved installers sometimes offer customers non MCS approved products, these installations may be lower in cost but are not eligible for the FiT.Example System Here is an example of the feed-in Tariff works for a typical domestic or smallcommercial solar PV installation.
SAP based output estimate: 3334kWh Annual revenue generated would be:- Feed in Tariff at 12.06p/kWh * 3334kWh = £402.08 per year Electricity saving (assuming 50% use and 14p/kWh electricity cost) = £233.38 per year Exported electricity (assumed 50% use and 4.85p/kWh value) = £80.85 per year Total Saving = £716.31 per year How do I apply?Before your system is installed you should contact your electricity supplier to inform them that you are having a micro-generation system installed. You should also ask them to fit an export meter, some electricity companies will not fit a meter and will determine your export amount based on a standard rate such as 50%. Ask them to send you all the necessary forms.Once your installation is complete, Intelligent Energy Solutions will register your system with your distribution network operator (DNO) and on the MCS/Gemserv database. At this stage you should contact your electricity supplier again and tell them that the installation is complete and that you wish to register for the FiT and they will ask you to complete some forms. After gaining your MCS Certificate for your installation, there are only a few other details that your supplier will need from you. Some companies have an application form, but this will vary from supplier to supplier. You will need some or all of the following information:
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