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In April 2010 the Government introduced a new financial incentive to support small-scale renewable energy generators. The aim was that the FIT structure should provide the right level of simplicity and certainty to encourage non-energy professionals to invest in small-scale generation. FITs are available for Solar PV and several other generation technologies.
How they work:
After having your Solar PV system commissioned by Solar Voltaics, you will receive three strands of benefits:
The latest FIT rates for solar PV can be found on the Ofgem website at Ofgem FIT rate Tables
The FIT rates are regularly reviewed by the Department for Energy and Climate Change (DECC) and are reduced as the installed capacity increases. It’s best to act soon if you want the best rate.
The generation tariff you are eligible for is the current rate applicable on the day your system is commissioned and registered. It will last the full 20 years – and will be adjusted annually for inflation in line with the RPI.
Note: The Government has also now introduced a requirement that properties on which solar PV systems are installed have to meet a SAP energy efficiency rating of Category D or higher in order to receive the above FIT rates. If your property does not meet this level of energy efficiency then you will be eligible for a lower FIT rate. Most domestic properties will achieve category D and most commercial buildings will if they are relatively modern or have more than a single skin roof and wall construction (to provide insulation). As part of our service, we handle all this assessment for you and normally include any survey costs in the quoted price. If there is a problem in achieving a category D energy performance rating then we can advise on suitable remedial measures to ensure that you will. Often, these measure do not have any cost impact to you, as grants are often available.
The Feed-In Tariff scheme was set up by the Government to provide a greater incentive for people to adopt renewable energy technology sooner by allowing them to lock into the highest tariffs at an early stage and help the UK meet its renewable energy targets on time.
*Solar Voltaics cannot offer financial advice and it is strongly recommended that you consult an independent financial adviser if you have any questions regarding the potential financial returns of a Solar PV system.