The Feed-in Tariff rates for Solar PV will reduce by 3.5% from April 2015, according to the latest figures published by the Department of Energy and Climate Change (DECC).
The changes are as a result of the increasing popularity of Solar PV and will effect both the 0-10kW and 50kW-5MW systems.
The Feed-in Tariff was designed to incentivise homes and businesses to install Solar PV by paying out for every unit of electricity generated by solar panels, whether you consume it or sell it back to the grid.
Feed-in Tariff rates are reviewed quarterly and are reduced if the numbers of installed systems meet the required trigger value, set by the Government, of 100MW. In Q4 2014, figures show that 124MW of Solar PV was installed.
Our advice? Install Solar PV before 31st March to maximise your returns
While the growing popularity of solar panels is good news for the renewable energy market, our advice to customers considering Solar PV is to make sure your system is installed before 31st March 2015 to lock in today’s higher Feed-in Tariff rate.
The changes are outlined in the table below:
| Size of system | Predicted Tariffs from 01.04.15 Pence / kwh |
|---|---|
| ? 4 kWp (new build) | 13.39p |
| ? 4 kWp retro fit | 13.39p |
| Between 4 kWp and 10 kWp | 12.13p |
| Between 10 kWp and 50 kWp | 11.71p |
| Between 50 kWp and 150 kWp | 9.97p |
| Standalone system | 6.15p |
To arrange a free survey for Solar PV please contact your local EnergyMyWay or call us on 0845 371 3181.
