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Solar PV Panels still a good investment at new Feed-in Tariff rate from 1st April

Romag domestic Solar PV panels

The Department of Energy and Climate Change (DECC) has announced a reduction in the Feed-in Tariff for Solar Panel systems from 1st April 2015. We are pleased to confirm that the change to the Feed-in Tariff rate is minimal, but if you are already considering Solar PV panels for your home or business, it would be wise to ensure your installation is complete and commissioned before 1st April 2015 to benefit from 20 years of guaranteed payments at today’s higher Feed-in Tariff rate.

We anticipate a typical domestic 4kWp installation will return approximately £20 less per year after 1st April, but can still deliver returns of up to £1,000 per year for 20 years so Solar PV remains a very attractive investment.

The table below shows the rate changes which have been confirmed as part of the government’s Solar PV degression model.

Changes to Solar PV Feed-in Tariff from 1st April

Size of Solar PV systemRates until 31st May
Pence per kWh
Rates from 1st April 2015
Pence per kWh
0-4kW13.8813.39
>4-10kW12.5712.13
>10-50kW11.7111.71
>50-150kW10.349.98
>150-250kW9.899.54
250kW +6.386.16

The new rates will still give users of Solar PV panels a healthy return on investment, however we recommend installing before 1st April to guarantee the higher rate. The Feed-in Tariff returns are for 20 years, tax-free and index linked. The rate on the day of your Solar Panels being commissioned is locked in for you for the entire 20 year duration of the scheme.

To arrange a free survey for Solar PV panels simply call 0845 371 3181 or find your nearest EnergyMyWay

 

 

James Eades

By: James Eades

Operations Director, James Eades is EnergyMyWay's in-house expert on renewable energy policy, microgeneration technologies and best practice in the renewable energy industry.