Time is Running Out for FIT Sign Ups

  • Oct28
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solar panels

Image source: Wikipedia

With talk of all the changes involving the Feed-in Tariff circulating the industry, we thought we would discuss what is happening to the scheme, and how you can make sure you benefit from the offer.

About the Tariff

For those of you that don’t know, the Feed-in Tariffs are payments to energy users to reward the renewable electricity they generate – in essence, the scheme pays people for being environmentally friendly. The scheme has been introduced by the government with the aim to increase the level of renewable energy produced in the UK. Pretty much anybody is eligible for the scheme as long as they produce less than 5MW of power.

What’s Changing?

The Department for Energy and Climate Change has announced that they will be making cuts to the feed-in tariff rates for solar installations by almost 87%. These cuts will take place in January 2016, putting a strict time limit on the opportunity to take advantage of the money saving scheme. At the moment, households can save up to £125 per year on bills due to this incentive scheme, and still have the chance to benefit from this if solar panels are installed before 1st January 2016.

The tariff will still last 20 years, meaning that as long as the solar panels remain installed and functioning, homeowners will benefit from the incentive for 20 years after installation. Homeowners can still benefit from electricity savings, earnings from the Feed-in Tariff as well as revenue from exported electricity – but all of this will be stopped in the new year.

Further Information

Below is a list of resources that give more information about the scheme and where you stand in terms of applying for the scheme: