A Feed-In Tariff can be a great way of generating an income from the renewable energy you produce.
From April 2010 the Government passed a bill so anyone who is generating renewable energy (up to 4KW on a domestic property) should be paid for everything they generate, including the units they use themselves (see Ofgem).
The Feed-In Tariff generates an income in three ways:
- PV Microgenerators will be paid for every kWh or unit they generate.
- Get paid an additional guaranteed export rate for what is not consumed and sold back to the grid (wholesale rate 3.1p per kWh).
- Plus you have significant savings on your electricity bill.
Any system installed BEFORE the 3rd of March 2012 will be paid 43.3p per kWh for all energy produced. This 43.3p payment is guaranteed for 25 years, retail price index linked and tax free.
Any PV system installed AFTER the 3rd of March 2012 will be paid 21p per kWh for all energy produced. This 21p is guaranteed for 25 years, retail price index linked and tax-free.
We will update our website with our sources as soon as possible.
For Example:
A 3kW system in London will produce approximately
2550 kWh per year. You could earn around £1,104.15
for the total amount of electricity the system generates,
REGARDLESS WHETHER YOU USE IT OR NOT! (At 43.3 pence a KILOWATT - Guaranteed for 25 YEARS)
Plus £357 in savings made by not having to buy electricity. This assumes electricity brought from the grid at 14p per kW. As energy costs rise THIS SAVING WILL BE GREATER! (14p X 2550) Total INCOME at 2011 rates= £1,461.15
So you would have a payback over 25 years of £36,528.75* that's a profit of £22,528.75 and it is TAX FREE.
(*this figure does not include index linking, therefore the true amount will be much more)
How the UK Feed-in Tariff Works
A step-by-step guide to the UK Feed-in Tariff as it applies to Solar PV.
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