Feed In Tariff
Feed-in Tariffs (FITs) became available in Great Britain on 1st April 2010. And isn’t available in Northern Ireland – although this is under review.Under this scheme energy suppliers have to (compulsory for big six suppliers) make regular payments to householders and communities who generate their own electricity from renewable sources.
The tariffs available and the process for receiving them vary, depending on when the technology was installed, and whether the system and the installer were certificated under the MCS scheme.You will qualify for the full FIT payments if it is installed after 1st April 2010 using an MCS certificated product and installer.
How the tariff works
If you are eligible to receive the FIT then you will benefit in 3 ways:
Generation tariff – a set rate paid by the energy supplier for each unit (or kWh) of electricity you generate. This rate will change each year for new entrants to the scheme (except for the first 2 years), but once you join you will continue on the same tariff for 20 years, or 25 years in the case of solar electricity (PV).
Export tariff – you will receive a further 3p/kWh from your energy supplier for each unit you export back to the electricity grid, that is when it isn’t used on site. The export rate is the same for all technologies.
Energy bill savings – you will be making savings on your electricity bills , because generating electricity to power your appliances means you don’t have to buy as much electricity from your energy supplier. The amount you save will vary depending how much of the electricity you use on site.
Tariff levels, for technologies installed between 15th July 2009 and 31st March 2012 of most significance to householders.
See cash / power generation to understand how much the feed in tariff will generate for you.
