Feed in Tariffs Explained
Thousands of households are now topping up their annual income by having the power of Solar Energy. Feed-in Tariffs (FITs) are able to continually recharge their bank balances whilst playing their part in reducing the UK's carbon emissions.
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How you can earn from FITs?
Feed in Tariffs offer you 3 ways of making a return on your outlay. The biggest portion of earnings comes from the generation tariff, which pays up to 42.0p for every unit of electricity generated from your home (Price's correct at time of printing)
Because homes with Solar PV are able to draw power at the source, they can also make great savings on energy bills.
A 2kWp Solar PV system costing around £9,000 to £11,000 would take around 10 years to recover the initial capital cost under the FITs initiative, at todays prices (07/11). Our surveyors will be able to provide you with the actual costs and potential savings related to your project.
Three Ways To Benefit From FITs
- The Generation Tariff: Up to 43.3 p paid for every unit of power produced.
- The Export Tariff: An additional 3.1 p paid for every unit of power exported back to the national grid.
- Lower Bills: Using the electricity at source results in lower electricity bills.
Furthermore, the earnings you receive from UK Feed In Tariffs are tax free. This means, that with an average-sized system, you will be around £900-a-year <> better off, to re-pay your investment.
Are FITs a Good Investment?
Regardless of any changes that may be made in the future, anyone installing a Solar PV system now will receive the rates published on this website for 25 years from the date that the Solar PV panels are installed and commissioned.
Furthermore, the Feed in Tariff rates will increase in line with inflation and as energy prices continue to increase, it all adds up to a very attractive proposition.
The Feed-in Tariff is seen as one of the Government’s key weapons in its war on reducing carbon emissions and increasing the amount of energy produced by Renewable Energy systems in the UK.
Ultimately, the aim is to exponentially grow the percentage of power that comes from renewable sources from 2% in 2009 to at least 15% by 2020.
As well as adhering to the targets set out by the Kyoto agreement, the Government is under pressure to decrease the nation’s reliance on depleting fossil fuel supplies.
- Tax-free income from producing electricity.
- Get paid for every unit of power your system produces.
- Additional payments for exporting unused electricity.
- Save money by using self-generated electricity at source.
- Recover your outlay in under 10 years. (approx)
- Increase the value and saleability of your property. (subject to market conditions)
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