The Feed In Tariff Scheme (FiTS)

From April 1st 2010, the UK Feed-In Tariff comes into effect, making solar panel installation a very attractive investment indeed.

The FiT will apply across England, Scotland and Wales and is designed to incentivise solar panel installation, by offering what is referred to as “clean energy cashback”. Put simply, it means that homes and businesses implementing small scale low carbon energy generation through solar PV panels (or other eligible means) will be paid for the energy they generate. This even applies if the households or businesses use all of the electricity they generate themselves! The rates have also been set so that those generating electricity through solar PV will be paid well above the rate at which utility companies sell electricity, to account for the fact that solar generated power is more expensive to produce than fossil fuel generated power.

 

Why Will the Feed-In Tariff Decrease Each Year?

The idea behind cutting the tariffs is to encourage people to act now. By acting now you will get the best financial return on your solar PV installation. This is an incentive to get more people to make the solar choice before sooner rather than later, assisting in ensuring that the UK meets its carbon emissions reduction targets.

Want to know more about the UK Feed-In Tariff and how you could benefit? Contact Towngate Technologies today.