Solar PV Feed-In Tariff rates to remain the same until July 2013

Solar Feed In Tariff rates will stay the same until JulyOn Friday Ofgem confirmed that domestic FIT rates will stay the same for solar PV installations installed between 1st May to the 1st July. Ofgem confirmed in December that it would review the tariff in April, and the early announcement will be welcomed by anyone considering getting solar PV installed. The tariffs for each period are important because the tariff rate you will be paid for 20 years (the lifetime of your system) is set at the time when you install the system. For more information on how the FIT scheme works, visit our Feed-In Tariff pages.

Solar PV rates set to stay the same until July 2013As is stands, the higher Generation Tariff is 15.44p/kWh, the medium rate is 13.90p/kWh and the lower rate is 7.10p/kWh. There are criteria that determine which tariff rate you will be paid. You are eligible for the higher rate if your EPC pre-installation rates your house as D or above for energy efficiency, and you get paid the medium rate if this is true but you own 25 or more separate installations (say, if you’re a landlord with many properties). You get paid the lower rate if your EPC rating is lower than a D. If this is the case, it’s worth making your house more energy efficient before getting the system installed, as the difference in tariffs can add up to a significant drop in savings.

Oddly, the Export Tariff rate has gone up from 4.5p/kWh to 4.64p/kWh, boosting your income from generating your own electricity using the system a little as you’ll be able to sell your surplus electricity back to the Grid for a little more money.

A typical 3.5 kW system on a well sited roof can earn around £520 a year in FIT payments on the higher tariff, and even installations on East facing roofs can earn around £400 a year. There’s also the money you save on your electrcity bill – this is around £80 a year for most systems. You can find out if solar PV is right for you by taking our Free Energy Assessment.

 

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